Exploring the possibility of bringing electric 2-wheelers, says Mahindra Electric
CNBC-TV18’s Parikshit Luthra caught up with Mahesh Babu, CEO of Mahindra Electric on the side-lines of the SIAM Convention and began by asking about the company's plans in the electric vehicle (EV) space, the internal combustion-EV ratio and uncertainties around them.
Mahesh Babu, CEO of Mahindra Electric, spoke to CNBC-TV18 about the company's plans in the electric vehicle (EV) space, the internal combustion-EV ratio and the uncertainties around it.
“We being a pioneer in electric mobility, our plans are very clear. We are getting prepared for BS-VI. Mahindra Electric has brought in innovative products in the EV space,” Babu said on the sidelines of the SIAM Convention.
“Faster Adoption and Manufacture of (Hybrid and) Electric Vehicles (FAME) is a long-term three-year policy for promoting the electric vehicle. So the electric promotion is not being rolled back. However, there are a lot of statements being said that EV will replace the internal combustion engine (ICE) in a short time. Our stand has always been that both will co-exist. We have been always saying that electric will grow at a faster place and the ICE will survive,” he added.
“We have been always ready with both the technologies and EV is one of the strategies which we are committed to. The world is moving towards EV in a stepped manner. India is taking the right steps to Make in India. EV in India is not growing just by importing but doing a lot of local content,” said Babu.
“We are going to soon launch our permanent magnet motor built in India in our plant in the coming year,” he said.
On future products in the EV space, Babu said, “We are going to come up with electric hatch soon. Electric-Verito is doing well in the fleet segment. Treo is picking up both in the Yaari and under three-wheeler space. The market started appreciating the lithium-ion three-wheeler version much higher because we are giving a clear three-year warranty for the product which is unprecedented in the three-wheeler sector. We are seeing multiple shoots.”
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