Greater Noida: Mahindra & Mahindra Ltd (M&M) on Wednesday, at the Auto Expo, launched India's most affordable electric car, eKUV, at a starting price of ₹8.25 lakh (ex-showroom).
The price tag takes into account the benefits under the government's Faster Adoption and Manufacturing of Hybrid and Electric vehicles in India programme or Fame 2.
The Mahindra eKUV offers a peak output of 40kw and a torque of 120Nm. The electric car, positioned for fleet and commercial applications, will offer a running range of 150 km on a single charge. The company said the electric vehicle (EV) will come equipped with fast charging feature with the ability to charge up to 80% of its battery in under 60 mins.
Senior company officials said the eKUV will come with an automatic transmission and several connected vehicle features.
The company also said it will launch the electric variant of its popular compact sports utility vehicle XUV300, the eXUV300, by second half of next fiscal.
At the Auto Expo, M&M also showcased Atom, another EV developed for last mile connectivity requirements, along with it's Funster concept, which also is an electric vehicle with convertible roof.
Pawan Goenka, managing director, M&M said, "the Funster concept was conceived and designed by our own design department at our Mumbai based facility."
M&M, which has been prioritising shared, electric and connected vehicle technologies going forward, will invest ₹15,000 crore over next three years across passenger and commercial vehicles and tractors.
"We have invested ₹1,700 crore on the development of electric vehicles until now. We are investing another ₹500 crore in an R&D unit for EVs in Bangalore and a new (battery and other EV components) plant in Chakan near Pune," said Goenka.
"Shared mobility will drive large scale adoption of EVs and we intend to offer widest range of EVs with affordability as the guiding factor," he added.
The company said it has completely localised its electric three-wheeler Treo where only lithium ion cells are imported. The senior company executive estimates that Treo could drive larger adoption of EVs in the three-wheeler segment going forward, with at least 50% of all three-wheelers sold in India going electric in the next two-three years.