Facing stagnancy in passenger car sales of electric vehicles, Mahindra Electric is focussing on sales to fleet operators like Uber, Ola, Zoomcar and others, to drive growth in this segment. Mahesh Babu, the company's CEO said that in the last fiscal year, the company was able to sell more than 4,000 vehicles, of which passenger cars accounted for around 1,300 units. It accounted for around 0.5 per cent of the entire sales volume of Mahindra & Mahindra in the last fiscal year.
While this year, riding on optimism over adoption of electric vehicles in many Indian states and formulation of favourable state government incentives, he expects sales volume to double. However, the growth will be led by commercial vehicles and sales to fleet operators. “The passenger car sales have been stagnant while sales of commercial vehicles have more than doubled and institutional sales have been good. Now, we will be focusing on sales to fleet operators which is expected to drive growth”, he said. Since the acquisition of Reva Electric Car Company from the Maini family in 2010, which marked its entry into the electric cars segment, Mahindra Electric has been able to sell 4,500 cars which are currently plying on the roads and has lined up Rs 6 billion investment to develop its electric car portfolio.
No comments:
Post a Comment