Mumbai: Mahindra Reva Electric Vehicles Pvt Ltd has cut the price of E2o, India’s only electric car, by 16%, the company said on Tuesday. The reduction comes after the government announced an incentive called Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) to for electric vehicles.
The car will now cost Rs.4.79 lakh on road in Delhi in addition to a fixed energy fee of Rs.2,999 per month for 5 years or 50,000 km, which is a reduction of 16% over the old price, the company said.
FAME focuses on investments in research and development, incentives for demand creation, setting up of charging infrastructures and rolling out of electric vehicle pilot projects.
Mahindra Reva has installed more than 300 easily accessible charge ports across the country. A charge port can also be installed at home, the company said.
“The benefits of the scheme in terms of demand incentives will be passed on to our customers, thereby making the e2o a more compelling and viable choice for mobility,” Pravin Shah, president and chief executive (automotive), Mahindra and Mahindra said.
Further, with the intervention of the government towards increasing charging infrastructure coupled with its technological upgradation the company hopes to address the issue related to the range of such vehicles and increase awareness
