Mahindra has cut down on the prices of Mahindra e20

Mahindra & Mahindra has cut down on the prices of its small product e20 by INR 92,000, right after the law passed by the central Government that is providing discounts and incentives on electric as well as hybrid vehicles. The e20 made by the brand, would be undergoing a reduced price of 16 percent as compared to its price previously kept price of INR 5.71 lakhs that was the on road price for the model. There was an added on charges of INR 2,999 per month for the first 5 years or covering 50,000 kms.

 

But now, keeping the fixed fee mentioned above as the same, the car would cost INR 4.79 lakhs on the road estimate. It has been reportedly quoted by Mr. Pravin Shah, President and Chief Executive, Mahindra, that this rebate makes the model more economical and alluring now. He also said this cut down on the price is all thanks to the Government’s Fame- faster Adoption and Faster Manufacturing of Hybrid and Electric Vehicles.

 

 

Under the plan of Fame, the Govt. steps forward, granting a discount on Electric and Hybrid products, for up to 29,000 on bikes and INR 1.38 lakhs on cars. It is indeed a baby project of the National Electric Mobility Plan that has incurred an investment of INR 795 crore back-up. The company had manages to sell about 600 vehicles, in the last year, in various cities like Delhi, Bangalore, Pune and Nepal. But with this reduction in the cost, they expect to hold on more profit from the market.