With the growing concerns for carbon di oxide emissions from car engines using traditional fuel sources, the introduction of cars which use electric power to energize engine are becoming more and more important. Mahindra and Mahindra, the manufacturer of commercial vehicle are making a strong bid to move into the passenger car sectors. They have already launched a passenger car ‘Verito Vide’, and are likely to unveil another version of ‘Verito’ in the coming two years.
M&M have acquired the sole electric car manufacturer ‘Reva’ and in all likelihood the next version of is going use electric power as a source of energy. In the coming years a model of ‘Verito’ energized by electricity will be unveiled in the expo for automobiles. The chief executive of Mahindra & Mahindra has announced, when he unveiled ‘Vibe’ in the market, that the company is already selling seven to eight hundred ‘Verito’ and with the introduction of ‘ Vibe’ it is likely to improve its sales figures substantially. The price is likely to be around Rupees six lakhs and fortynine thousands. With this price tag it will face stiff competition from the established brands both from Honda and Maruti, as their models, ‘Swift and Dzire’ and ‘Amaze’ are already selling around with the same price tag. He said the next version of ‘Verito’ which is going to be an electric model.
Mahindra is going to keep on manufacturing SUV models like Scorpio Bolero, and XUV500. A senior executive said they are also going to manufacture ‘Verito, and Vibe’ and car ‘E20’; however, they do not have any plans so far to introduce new models in the passenger segment in the Indian car market. They aim to concentrate on improving their sales growth in the coming years. Their electric car is likely to be introduced in the year 2015. It is hoped that this strategy of keeping limited car models and strong sales pitch adopted by Mahindra would bring success to the company in the coming years.