M&M plans to launch high powered electric vehicle

Posted By: Religare
Subscribe to GoodReturns

Indian automaker Mahindra & Mahindra (M&M) is planning to launch a high powered electrical vehicle for the production of which it has already starting working on a new electric vehicle platform.

The company successfully launched its first electric vehicle namely, the e20 last month.

"After we launched the e2o in March, now we have just started developing a new electric vehicle platform. This will be for higher powered vehicles," M&M President (Automotive and Farm Equipment Sectors) Pawan Goenka said.

M&M is undertaking the design and development work for the launch of the proposed platform at the company's electric car unit Mahindra Reva's Bangalore centre.

The high powered electrical vehicle may take several years for its development. The company's new electrical platform may be used for its Korean subsidiary Ssang Yong.

"This is going to be the next generation vehicle after the set of launches of electric vehicle that are coming up from our stable. It is going to take several year", Goenka said.

"SsangYong has shown interest on development of this platform", Goenka added.

The company had made a total investment spend of Rs 100 crore on the e20. It is also undertaking an investment spend of Rs 150 crore for the development of electric versions of its three existing vehicles -- Gio, Maxximo and Verito.

Read more about: mahindra mahindra
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'