Mahindra and Mahindra stated that its electric vehicle sales grew over two-and-a-half times to 10,276 units in 2018-19. The company had received orders from the state-owned EESL for the e2O and even the e-Verito and the company has already started delivering the ordered electric cars and that's one reason why we see a jump in the sales of EVs.
Mahindra sells a range of electric cars in the country like the e2O, e-Verito, the e-Supro commercial van and also the Treo three wheeler and it managed to sell 4,026 units in 2017-18, a number that was mentioned in an investor presentation made by the company.
Mahindra along with rival Tata Motors had bagged orders from Energy Efficiency Services Ltd (EESL), which had floated tenders for supply of 10,000 electric sedans for usage by government departments. Under the government's Rs 10,000-crore FAME-II to encourage adoption of electric and hybrid vehicles, five lakh e-rickshaws having an ex-factory price of up to Rs 5 lakh will get an incentive of Rs 50,000 each.
It also offers an incentive of Rs 1.5 lakh each to 35,000 electric four-wheelers with an ex-factory price of up to Rs 15 lakh, and an incentive of Rs 13,000 each to 20,000 strong hybrid four-wheelers with an ex-factory price of up to Rs 15 lakh. In November last year, the company had launched its first lithium-ion electric three-wheeler range Treo and Treo Yaari to add to its fledgling EV portfolio.
Mahindra had already announced that as part of its expansion plans, the company will invest over ₹ 500 crores in its Electric Vehicle Project under the new EV Policy of the Government of Maharashtra. The investment for EV and EV Components is in addition to its ongoing expansion plan in Chakan which includes an initial investment of ₹ 6,500 crores. This additional investment of ₹ 500 crores will be utilized towards product development and capacity enhancement for electric vehicles and related components. The company plans to come up with powertrains ranging from low voltage like 48 kW and 72 kW which we already have to high voltage like 380 volts and 650 volts and power ranging from 90 kW (120 bhp) to 150 kW (210 bhp).