M&M launches Rs 1.12 lakh e-rickshaw

India Infoline News Service | Mumbai | September 28, 2017 13:20 IST

Mahindra and Mahindra took one step further in its strategy to expand electric vehicle portfolio by launching e-rickshaw- e-Alpha Mini at a price of Rs 1.12 lakh (ex-showroom Delhi).

Mahindra and Mahindra took one step further in its strategy to expand electric vehicle portfolio by launching e-rickshaw - e-Alpha Mini at a price of Rs 1.12 lakh (ex-showroom Delhi). Powered by a 120 mah battery, the five-seater e-Alpha Mini can travel 85 kms on a single charge and can hit a top speed of 25 kmph. After NCR, the company plans to launch it in Lucknow, Kolkata and other parts of India.

The company already sells e-Verito and e20 Plus in passenger vehicle space. The company is looking to grow its electric vehicle portfolio by investing additional Rs 600 Cr. The company also hinted at the possibility of a makeover of some of its existing models into electric vehicles.

It is believed that given increasing concerns over clean air, urban congestion and rising fuel import bills, electric mobility and electric vehicles are the way forward. However, the electric vehicle market is still in a nascent stage as currently, it constitutes only about 1% of total vehicle sales.

Mahindra & Mahindra Ltd is currently trading at Rs 1241.5, up by Rs 10.45 or 0.85% from its previous closing of Rs 1231.05 on the BSE.
The scrip opened at Rs 1240 and has touched a high and low of Rs 1248.45 and Rs 1225 respectively. The stock is currently trading below its 100 DMA. 


***Note: This is a NSE Chart

 

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