It has been reported that Mahindra & Mahindra will be investing in building long-range electric vehicles, high-power battery packs and power trains in an effort to boost Electric Vehicles.
The company has decided to increase the production of its electric vehicles to 5,000 units a month by mid-2019 which is 400 units at present. The automaker will also be investing in making batteries that enable cars to run for 400 kilometres on a single charge. However, the investment amount has not been disclosed by the company.
The government of India has been making attempts to boost the sales and adoption of Electric Vehicles. Recently, a government think-tank had also released a policy blueprint favouring electric vehicles, which could influence a new green car policy.
Mahindra is the only automaker in India which has been focusing on Electric vehicles yet it has struggled to boost sales till now. Since acquiring Bengaluru-based Reva Electric Car Co in 2010, Mahindra has sold only 2,700 vehicles, which includes the e2o small car and eVerito sedan. The primary reason being high battery costs of around as high as $270 per kilowatt hour, a paucity of charging stations. Lack of awareness and interest among people is also one of the reasons why the sales of EVs has not picked up in India.
The batteries that company makes now can run cars between 100 and 140 kilometres on a single charge, Mahindra is working to increase the range to 200 kilometres first and then to 400 kilometres. The government of India which looks serious towards the adoption of Electric Vehicles and is dedicated towards India is looking at having an all-electric car fleet by 2030 with an express objective of lowering the fuel import bill and running cost of vehicles.