Mahindra & Mahindra is giving a major thrust to its electric vehicle operations in the Indian market. The company has already been a trailblazer and the first automaker to introduce mainstream electric offerings like the e2O Plus and eVerito and also the Reva in the past. Mahindra & Mahindra is investing aggressively in the electric vehicle business, with an aim to produce 60, 000 such vehicles annually within the next two to three years. It has already pumped in Rs.500 crore for this division and will be investing a total of Rs.4,000 crore over a period of 3-5 years as per reports.
The company has recently tied up with Uber for deploying its electric vehicles and is looking for more joint venture tie-up in this space. Mahindra & Mahindra has already confirmed that the electric KUV100 will be launched by 2018 in the Indian market. Additionally, Managing Director, Dr. Pawan Goenka, has also stated that two electric cars will be launched by the year 2019 and both of these cars will be based on existing company models.
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Going by the latest reports, Mahindra & Mahindra may be planning to launch an electric version of its most popular SUV, the Scorpio by 2019. The electric Scorpio is already being tested in India according to several sources and this may be one of the biggest electric vehicle launches in the country within the next couple of years.
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Mahindra & Mahindra may look to the electric version of the Scorpio to maintain its leadership in the electric vehicle space since other companies are also looking at introducing diverse electric vehicles over the next few years.