Mahindra and Mahindra today launched their latest electric vehicle called the e2o and during the launch, Anand Mahindra, chairman of the group, confirmed that they will develop and manufacture electric two wheelers for the Indian market in the future. However, he refused to comment when asked about a timeline for the launch.
The concept of electric two-wheelers is not new in India as there are already some manufacturers like Hero Electric, BSA Motors and Yo Bykes who have been selling their products in India for over four years now. However, they are not being marketed aggressively and this looks like a good opportunity for Mahindra Two Wheelers, who already sell both scooters and motorcycles in India, to expand their presence.
Currently, the electric vehicles market share in India is very low, but with the help of government’s support, this segment can be penetrated by increasing the subsidy for EV and reducing the taxes. Other ways include better infrastructure like charging point across cities and special parking spots for electric vehicles.
