Mahindra plans bigger electric vehicle; starts R&D at Bangalore
New Delhi: After successfully launching its first electric car e2o, auto major Mahindra & Mahindra is working on a new platform for a bigger vehicle that could even be used by its Korean subsidiary SsangYong Motor.
"After we launched the e2o in March, now we have just started developing a new electric vehicle platform. This will be for higher powered vehicles," M&M President (Automotive and Farm Equipment Sectors) Pawan Goenka told PTI here.
The company is carrying the design and development work of the proposed platform at M&M's electric car division Mahindra Reva's Bangalore centre, he added.
Without specifying details, Goenka said: "This is going to be the next generation vehicle after the set of launches of electric vehicle that are coming up from our stable. It is going to take several year."
He, however, declined to share how much the company is investing to develop the new platform.
When asked about the models that will come with this new electric platform will be fitted, Goenka said: "This is for bigger vehicles. We have not decided anything yet. After development we will see whether this will be suitable for Mahindra vehicles or SsangYong vehicles.
"SsangYong has shown interest on development of this platform."
Last week, Goenka had said M&M will launch the electric version of its entry-level sedan Verito within a year, besides commercial vehicles Gio and Maxximo.
The company is investing about Rs 150 crore to develop electric versions of its three existing vehicles -- Gio, Maxximo and Verito.
Last month, M&M had launched its first electric car e2o priced at Rs 5.96 lakh (on road Delhi, after state subsidy), almost three years after it acquired Bangalore-based electric car maker Reva. In Delhi, the state government has given a total of 29 percent subsidy on sale of electric car.
The company has invested a total of Rs 100 crore on the development of e2o and construction of a manufacturing plant with an annual capacity of 30,000 units a year.
The Mumbai-based firm is also planning to extend the electric mobility technology to its two-wheelers, while seeking support from the central government for pushing eco-friendly vehicles.