Mahindra Reva Slashes E20 Price
New Delhi: Mahindra Reva Electric Vehicles, a part of the Mahindra Group, today slashed the price of its electric car e2o by up to Rs 1.7 lakh by introducing a scheme under which a consumer pays a rental fee for the battery.
“What we are doing with the scheme is bringing down the cost of acquisition while we guarantee the customers battery performance coupled with inflation proof running costs. We will own the battery, all that the customer needs to do is pay a monthly fee,” Mahindra Reva Electric Vehicles Chief Executive Officer Chetan Maini.
Under the scheme, a customer needs to pay ‘energy fee’ starting from 2,599 per month which will allow the user to drive 50,000 km (800 km of usage per month) over 5 years.
The company will also provide 24x7 assistance and guarantee a courtesy car during battery repair period.
“With this, the acquisition cost of the e2o will come down on an average by about Rs 1.7 lakh in cities, including Bangalore, Delhi and Mumbai where it is presently available.”