Mahindra to commercially launch electric Verito, Maxximo by February

Automaker Mahindra and Mahindra will commercially launch the electric variants of its passenger car Verito and mini truck Maxximo by February and is in talks with cab aggregators such as Ola to boost sales of the green cars in the country.

Mahindra will use the enhanced version of the power train used in its electric car e2o for both the vehicles. The lithium-ion powered four-door sedan would be priced higher than the diesel variants of Verito.

Mahindra is talking to cab aggregators such as Ola to boost sales of its new cars. It also plans to replicate the model of electric car fleet of cabs that is pioneered by Lithium, an electric cab service in Bengaluru, said Arvind Mathew, chief executive of Mahindra Reva Electric Vehicles Pvt Ltd, the EV unit of Mahindras

"We are exploring similar models in other parts of the country," said Mathew.

For Maxximo, it is working with logistics providers across cities to build supporting infrastructure and increase sales.

"If we can scale to 40,000 cars, prices will drop," said Mathew.

Mahindra Reva, which has sold around 5,500 cars in total since its inception, has a manufacturing unit in Bengaluru with capacity of 30,000 units.

India does not have a home-grown lithium ion battery making capability and the long lasting batteries are imported from China.

Mahindra, Maruti Suzuki and Tata Motors have joined the Indian government's faster adoption and manufacturing hybrid and electric vehicles (FAME) programme to jointly invest and develop common components and systems for electric vehicles for the country.

"We are working on a common standard for all components and systems. It will build the industry and bring down costs," said Mathew. "Each one will have their own IP. Software is the IP for individual companies."

India in April committed Rs 800 crore to improve the electric vehicle ecosystem in India, which include R&D, creating enabling infrastructure, improving access to lithium ion batteries and encourage EV adoption.

Mahindra India