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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.

SALES | NEWS

MAHINDRA EV MODELS

MAHINDRA REVA e2o

mahindra-ego

MAHINDRA HALO

mahindra-halo

MAHINDRA e RICKSHAW

mahindra-e-rickshaw

MAHINDRA REVA i G-WIZ

mahindra-g-wiz-ev

MAHINDRA KUV100 EV

Mahindra-KUV100-EV

MAHINDRA eVerito

mahindra-everito

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.

GLOBAL EV SALES

MAHINDRA ELECTRIC VEHICLES IN THE NEWS

2017 Week 45 - Mahindra KUV100 in Indian EV tender

In September the Indian Government’s Energy Efficiency Services Limited (EESL) awarded the world’s biggest EV tender of 10,000 EVs to Tata Motors. India’s other big carmaker, Mahindra & Mahindra, got a concession allocation to deliver 3,000 of the total 10,000 units. The tender to replace the Indian Government’s fleet of petrol and diesel vehicles over the next four years is to kickstart the Indian EV sector to reach its ambitious goal to get the country off fossil fuels and 100% EV based by 2030. Tata will supply its Tigo EV, and Mahindra is expected to include its KUV100 Crossover EV which is expected in 2018. According to the Financial Express sources, this week said that the EESL is preparing a second even bigger tender of 20,000 vehicles early in 2018. Speculation is that international EV manufacturers could get a slice of the pie to further develop the Indian EV sector through this new tender. The value of the tender is expected to be in the region of Rs2,300 crore (~$350 million), which equate to $17,500 per vehicle.

2017 Week 40 - Mahindra to invest $600m in EVs

After losing a tender to supply the Indian government with electric vehicles to Tata, Mahindra and Mahindra amped up its investment in the sector by earmarking $600 million (Rs 4,000 crore) over the next three to five years. The investment will be in four parts, namely:

  • R&D in EV tech including battery technology, power electronics, and motors;
  • Capacity expansion;
  • Electrifying its current portfolio;
  • Developing a dedicated EV platform with Pininfarina.

2017 Week 38 - Mahindra and Ford Parner on EV development in India

With an eye on India’s ambitions to be rid of combustion vehicles by 2030, Ford and Mahindra entered into a strategic partnership for the development and sourcing of electric vehicles, e-mobility solutions, and self-driving technology. The partnership will be for three years with the option of extending it. Executives from the two companies were quoted in a company press release as follows:

“Our two companies have a long history of cooperation and mutual respect. The memorandum of understanding we have signed today with Mahindra will allow us to work together to take advantage of the changes coming in the auto industry. The enormous growth potential in the utility market and the growing importance of mobility and affordable battery electric vehicles are all aligned with our strategic priorities.”

Dr. Pawan Goenka, managing director, Mahindra and Mahindra Ltd elaborated: “The changes facing the automotive industry globally are triggered by the accelerated rise of new technologies, sustainability policies and new models of urban shared mobility. Given these changes we see the need to anticipate new market trends, explore alternatives and look for ways to collaborate even as we compete and build powerful synergies that will allow rapid exploitation of the exciting new opportunities. Today’s announcement builds on the foundation laid through our past partnership with Ford and will open opportunities for both of us.”

2017 Week 26 - Mahindra and Ssangyong to develope EV SUV

The Korean auto manufacturer, Ssangyong, 72.85% owned by Indian conglomerate Mahindra and Mahindra announced that it will produce of an electric SUV by 2020. The SUV is to be assembled at the 250,000 unit plant in Pyeongtaek South Korea. and promises a range of 300km with a top speed of 150km/h. Ssangyong earmarked 1 trillion won ($1 billion) for the development of SUVs and EVs over the next four years. The parent Mahindra & Mahindra will support the development with funds and technical assistance.

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.

TOOLS TO COMPARE ELECTRIC VEHICLES

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