Mahindra announces to roll out two new Electric Vehicles

India, the world’s fifth-largest automobile market, plans to sell only electric vehicle  by 2030 in a bid to slash its oil bill by $60 billion and emissions by 37%. Automotive giants TATA and Mahindra are in the front-line of this ambitious project.

Mahindra & Mahindra’s ventured into the electric vehicle space almost half a decade ago, by acquiring REVA and launching e2o Plus, and now wants to make the most of the opportunity by offering customers more options to choose from. The car-maker has officially announced that it is working on two more electric vehicle , one of which will see the light of the day in 2018, and the other by mid-2019.However Mahindra has not revealed any details about the  Electric Vehicles. Given its wide SUV portfolio, it is anticipated the company’s next electric vehicle turns out to be a Electric SUV.

The announcement came as Dr Pawan Goenka, managing director, Mahindra & Mahindra Ltd, interacted with the media to clear the air around the EESL tender under which Mahindra will be delivering 150 eVerito cars by November 30, 2017. The eVerito has a range of 170-180km per charge exceeding EESL requirement of 130kms. They have plans of increasing EV production capacity from 500 currently to 5000 in the next year and a half. Mahindra will invest Rs 600 crores more in electric ventures, which includes production and R&D costs as well.

As industry slowly shifts to electric alternatives, a surge in demand for skilled engineers and workers is inevitable. India is estimated to have more than 30.81 million electric vehicles sales by 2040. By 2022, the world-wide electric vehicle value chain will likely be greater than $250 billion

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