Mahindra plans to bring EVs in US Market

Mahindra & Mahindra has plans to explore the US markets with the electric vehicles from Reva. The company wishes to expand on the bandwidth in US by introducing electric vehicles from the group company, Reva profile in the coming five years.

The statement made by a top executive from the company says that, the Mahindra has plans to dive in the US market with electric vehicles from the company's REVA brand in next five years. The statement given is at a crucial time when Mahindra & Mahindra is in a legal encounter with its US distributor over the delay of the launch of the company's pickup trucks in United States of America.

R Chandramouli, the chief of operations in the Mahindra REVA said that, US is one of the biggest and most important market for the electric charge vehicles and the company wishes to set its foot print in the potential auto market. The company is targeting to set its mark in five years in the global auto market. But still strategies are being made as the time is not yet decided. He added on, that currently, the government in US is providing distinctive incentives to encourage the use of electric automobiles. The US government has invested USD 7,500 for the electric vehicle.

Mahindra & Mahindra purchased 55.2 per cent stake in Chetan Maini backed REVA Electric Car company by combining it with the equity purchase and a fresh equity extract of more than Rs 45 crore in the company.

The company seems to be sure of the new electric technology thats why it is planning to introduce electric driving technology in all its vehicles. Though it is yet to be announced officially, it is expected that the new technology will be affixed in the flagship model Mahindra Scorpio, light vehicles and mini trucks.

Chandramouli answered, when questioned about the company's expansion that, the company hopes mark a global presence in the coming five years time, other than India and Europe in which the company is already running its operations.

Reva has been sold only in two cities Bangalore and London, as the company concentrated on these markets only. There are 1,000 or more units which are already speeding on roads. And from the launch of its first EV in 2001 almost 3,700 units have been sold.

Mr Chandramouli also said that, the company has extensive plans to test and bring templates in US market. Template here means that the company will create new models of the electric automobile. The company also hopes to put these models in the US and Indian markets.

The Indian automobile manufacturers also planned to launch in US Scorpio's pick up trucks by 2009 end and has already missed two deadlines because of the regulatory issues. Again a deadline of 2010 end has been finalized for the launch in US market although a legal battle has been going on against the Indian manufacturer from the US distributors Global Vehicles (GV) which has filed a suit with other franchise owners.

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