Mahindra has a very good reason to cheer. The Faster Adoption and Manufacture of Electric vehicles scheme (FAME) India initiative that was announced few weeks back has resulted in a price drop for the e2o.
The Mahindra e2o range now starts at Rs 4.99 lakh for the T2 Premium which was earlier priced at Rs 6.76 lakh, ex-Mumbai. The premium T2O Quick2Charge variant now retails for Rs 5.38 lakh as opposed to the Rs 7 lakh plus price earlier.
The company clarified that this discount is over and above any other existing incentives for the e2o. Currently, the discount on the Mahindra e2o is applicable in Delhi and NCR, Kolkata, greater Mumbai, Bengaluru, Hyderabad, Ahmedabad and Chennai. It is also applicable to cities with one million plus population as notified by the government. The incentives, however, don't stretch to the battery leasing scheme which still continues at Rs 2,999 per month.
The new FAME vehicles scheme aims at providing incentives to manufacturers to build hybrid and electric vehicles. India has one of the fastest growing economies and also one of the fastest growing auto industries. We appreciate the government’s decision and also Mahindra, for implementing the reduced price so quickly. Things will surely change in the electric and hybrid vehicles industry if the government continues to lend its support.