M&M Set To Gain From Government’s Order Of 10,000 EVs
Mahindra & Mahindra is all set to gain from the latest order of 10,000 Electric Vehicles, by the Government of India. The brand is currently the sole player in the electric vehicle segment in India. Energy Efficiency Service Ltd. (EESL) has placed an order of 10000 EV’s and 4000 chargers. For those unaware, EESL is a joint venture of PSUs, which falls under the Ministry of Power, Government of India. The 4000 chargers will comprise 3000 slow chargers and 1000 direct fast chargers, which comply with Bharat AC-001 and DC-001 charger specification. According to media reports, these electric cars and chargers will be used for coal, mining, power and new and renewable energy ministries, while some of them will be used for renting to other government departments. The GOI and NITI Aayog had earlier planned a massive shift to electric vehicles by 2030, and this comes as a first step towards that goal. Mahindra & Mahindra is all set to take up the challenge, being the only manufacturer of electric vehicles in India, contributing to the Government’s aggressive plan to go all electric. Mahindra Electric, a division of Mahindra’s Group dedicated for producing electric vehicles, is eager to benefit from the new business opportunity. In a bid to expand its electric arm acquired from Reva Electric Car Company, M&M has so far invested a whopping amount of Rs 600 crore.
The Indian company eyes on expanding its assembly capacity to 60,000 units annually by 2019-2020. As a result, Mahindra is planning to build a new facility in Chakan with an estimated annual capacity of 48,000 units. The company could expand the capacity of Bengaluru plant by 7,000 units to take the total number to 12,000 units. Mahindra & Mahindra is also working at making its electric vehicles more efficient. It is said to use new electric drivetrains with power output ranging between 41-204hp for future EVs. Furthermore, the company is aiming to achieve 250-350km range and 4-5 seconds of time for 0 to 60km/h sprint with a top speed of 200km/h.
Source:TheDailyCronicle
