Friday, November 15, 2013

No more EVs from Mahindra until government announces subsidy

The Verito electric, which was showcased at the 2012 Auto Expo, the electric versions of the small trucks – Maxximo and Gio – or for that matter any more electric vehicle from Mahindra & Mahindra (M&M) will hit the market, only if the government lends a helping hand for electric vehicles (EVs) in the form of subsidy.
“There’s been an announcement by the PMO that the cess fund that’s available for R&D in the automotive industry will be utilised for immediate subsidies for EVs. That has also not happened,” rues Dr Goenka. He adds that M&M is “clearly waiting for it” and is certainly willing to “work very hard” in the EV space.