Mahindra to launch electric version of Verito, Gio, Maxximo
An electric variant of the Verito sedan will be launched within a year.
New Delhi: Auto major Mahindra seems to be going all electric. After successfully launching the e20 Mahindra plans to roll out the electric version of its Popular Sedan Verito, compact truck Gio and minivan Maxximo.
An electric variant of the Verito sedan will be launched within a year, Pawan Goenka, president, automotive and farm equipment sector, M&M said on the sideline of a CII event in New Delhi on Thursday.
The electric Verito, first showcased at the Auto Expo in Delhi last year, has been co-developed by Reva, which also developed e2o (codenamed NXR).
“The prototype is ready. Verito is a heavier car than the e2o. There has to be adjustment and optimisation of the technology, and we will be ready to launch it in a year’s time,” said Goenka.
Reva has also worked with Mahindra for co-developing electric versions of its light commercial vehicles Gio and Maxximo, which are almost in the final stage.
The company said it has a fleet of 50 electric Maxximos ready and these would be launched commercially after assessing the response to the e2o.
The company is investing Rs150 crore on development of the electric Gio, Maxximo and Verito models.
It, however, said the response to e2o has not been as per expectations. Though there are a lot of customer enquiries, the conversions are less. The company is hoping to sell 400-500 units a month in the domestic market.
The vehicle has been launched in Delhi and would be launched in other cities in a phased manner.
The Delhi government provides a subsidy of 29% on electric car purchases, far higher than in other states.
To be sure, lack of subsidy on electric vehicles has kept their prices on the higher side, thereby limiting sales.