MAHINDRA REVA ELECTRIC VEHICLE
Mahindra, India‘s leading vehicle brand acquired the Reva Electric Car Company, the producer of the REVA G-Wiz in 2010. Mahindra recently completed 30,000 units per annum state of the art plant in Bangalore India. The plant has off the lowest dirt to dust footprints in the auto sector. The company’s new name is Mahindra REVA Electric Vehicles. Mahindra is one of the early participants in the Formula E championship reaching an overall 5th position in the second season of the event. Participation in the Formula E franchise support innovation in the electric vehicle market, benefiting car makers such as Mahindra.
Mahindra & Mahindra introduced its EV 2.0 strategy in 2017 to gear itself for the Indian Government’s proposed EV strategy. Mahindra forecast 5 million electric vehicles in India by 2032. The Mahindra EV 2.0 strategy is centered around the development of a high capacity platform with:
- 400km range
- 200km/h top speed
- 4-hour charge, and
- Acceleration of under 5 seconds for release late 2019.
The Mahindra EV 2.0 strategy and will be housed in a company Mahindra Electric with CEO Mahesh Babu. The Mahindra platform will be used for private and commercial use and will kick off with a Rickshaw with a Lead-Ion Battery producing a range of 85km for release in 2017. The rickshaw will have a charge time of 10 hours and produced at the plant in Haridwar, Uttarakhand.
MAHINDRA EV MODELS
MAHINDRA REVA EV SALES
Go to our detailed breakdown of Global EV Sales to see how Mahindra & Mahindra electric car strategy fares to its competitors in the fast-growing EV market.
MAHINDRA ELECTRIC VEHICLES IN THE NEWS
2017 Week 21 - Mahindra gearing for EV race
Indian based Mahindra and Mahindra this week shed some more clarity on how it aims to compete in the electric vehicle sector. The company announced that it will construct a battery plant in Chakan, Pune City in Maharashtra State which will increase the company’s battery output ten fold. Currently, the company produces only around 500 battery packs a month for its e2O and eVerito models from imported cells at its Bengaluru plant, the Chakan plant has a target of 5,000 units a month. The Indian company is also developing a high powered electric vehicle platform available by 2019 that is capable of speeds up to 200km/h / 125mph and a range of 350 – 400km (250 miles). The Indian government has set a lofty goal of 100% electrification of the countries vehicle fleet by 2030, but to date, the technology has failed to get any traction compared to that of its peer, China.
2017 Week 12 - Mahindra committed to electric vehicles
Mahindra and Mahindra Ltd is eyeing both luxury electric vehicles comparable to Tesla under the Pininfarina brand and mass market vehicles. Mahindra’s MD, Mr. Pawan Goenka made the comments in an interview with the Indian publication Live Mint. According to Mr. Goenka, he does not think that India will go the subsidy route. Therefore EV prices should come down between Rs40,000-50,000 (around $750) for it to make financial sense. He admitted that the company is currently losing money on EV’s but that Mahindra is in it for the long haul and will remain committed to the sector. Mahindra is targeting the Asean (Association of Southeast Asian Nations) markets for its EV business.
2017 Week 3 - Indian tycoon to invest in an electric vehicle for India
Bloomberg reported that the JSW Group’s owner and Chairman, Sajjan Jindal, announced in Davos, Switzerland his intention to enter the Indian Electric Vehicle market by 2020. The metals tycoon expects the Indian government, like many other governments, will promote EVs once it’s more affordable. Although India has some large automakers such as Tata and Mahindra, which is a contender in the Formula E Series, the country is significantly lagging its neighbor China, the world’s largest EV market. India had only around 6,000 electric vehicles registered at the end of 2015.
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How successful is the Chinese New Energy Vehicles Program? The State Auditor found that 45% of Chinese EV makers sold less than 500 models per year.
Traum Auto, another new vehicle brand chasing the Chinese dream. The latest brand is from the Zotye stable officially launched on the 27th of June 2017.
In this week’s blog series on introducing Chinese electric car brands, we look at Thunder Power Holdings ( #ThunderPower ).