Indian automaker Mahindra and Mahindra Ltd. will be launching an electric version of its Verito Sedan next year. EV technology made by its subsidiary Reva will be used in the e-Verito, said Ravindra Shahane, senior general manager, marketing, automotive division of Mahindra.
"There are some challenges in the electric car market which need to be addressed before we can come out with the electric version of Verito. We hope to launch it next year," Shahane told The Hindu BusinessLine and other media during the launch its Verito Vibe compact car.
Shahane was likely referring to the Indian government recently ending federal subsidies that lowered purchase prices for consumers. As is the case in Europe and North America, automakers in India are struggling to build the right amount of EVs that are likely to sell in the marketplace.
This year, Mahindra Reva is launching its E20 electric microcar. The automaker hopes to sell 30,000 E20 units by 2015-2016, with half of them being exported. These cars are being built at its recently-opened Bengalaru factory, which can produce up to 30,000 units a year. Mahindra can build 3,000 units a month of its Verito Sedan and Vibe at its Nashik unit in Maharastra. Mahindra sold nearly 15,000 Verito Sedans last year.
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