Mahindra Reva has reduced the price of its all-electric car e2o by around Rs. 1.5 Lakhs in all the major cities across the country. This reduction has taken place due to the launch of the FAME (Faster Adoption and Manufacturing of Electric Vehicles) scheme by the Ministry of Heavy Industries and Enterprises in collaboration with SIAM. This discount is available barring any other incentives already on offer.
Mahindra e2o revised pricing starts at Rs. 4.99 Lakhs (ex-showroom, Mumbai) for the entry-level T2 variant as compared to the previous price of Rs. 6.76 Lakhs (ex-showroom, Mumbai). On the other hand, the premium T2O Quick2Charge variant is now priced at Rs 5.38 lakh (ex-showroom, Mumbai) against the previous price of Rs 7.12 lakh (ex-showroom, Mumbai). In addition, the company has been offering incentives on the e2o in several cities whose population mark exceeds the figure of 10 Lakhs as notified by the Government. It also includes cities like Delhi and NCR, Mumbai, Hyderabad, Bangalore, Ahmedabad, Chennai, Kolkata, and smart cities. However, the incentive under FAME scheme doesn't extend the battery pack as a buyer would still have to pay Rs. 2999 per month for the battery leasing scheme.
Ministry of Heavy Industries and Enterprises, Government of India, has sanctioned Rs 795 crore under the FAME scheme for Phase 1 spanning the fiscal years 2015-16 and 2016-17. And, hence the government has introduced incentives for all categories of hybrid and electric vehicles with the major incentives being as follows:-
- Rs 1,800 to Rs 22,000 for scooters
- Rs 3,500 to Rs 29,000 for motorcycles
- Rs 13,000 to Rs 1,24,000 for sub-4-metre four-wheelers
- Rs 11,000 to Rs 1,38,000 for four-wheelers above 4 metres long