Reva NXR Might Cost Equivalent to Most Premium Hatchbacks

India’s only electric car manufacturer, Mahindra Reva owned by Mahindra & Mahindra, which is all set to roll out its much awaited project, the Reva NXR, first four-seater by the giant during the festive season is planning to keep the pricing of the vehicle about 20% higher than that of the other petrol hatchbacks available in India. And if that happens, the Reva NXR will be priced equal to many luxury hatchbacks including the segment toppers Maruti swift and Hyundai i20 diesel versions.

Speaking about the same, Pawan Goenka- President- Automotive, Mahindra & Mahindra said, "For the success of electric cars, affordability is the key. And we have learnt that the customer may not be able to pay more than 15-20% premium on electric cars. Our endeavour is to offer our products within that range. The extension of subsidy through new electric vehicle policy will be the key,"

And as per the ET the government might extend the subsidy by Rs 1 lakh to cut down the passenger car prices, so they become more affordable. Heavy industries ministry believed that about 6-7 million electric vehicle are there on Indian roads, which majorly covered by 2-wheelers and buses, while the electric passenger car market could be over 6-7 lakh units by then.

Gonekar further says, "Once the mission plan is implemented, everyone will get into the electric vehicle space, which will help in development of charging infrastructure as well. If we get a good response for NXR, we may come out with three to four more products,"

And as we reported earlier that the top speed of the upcoming Reva NXR will be 100kmph, but is lesser than premium hatchbacks, but since the Reva NXR is more of an urban vehicle, we believe that such a speed is more than enough for city riding. And as Goenka said that, initial cost might certainly go high, but if we look at the wider picture, an electric vehicle would just cost 50-60 paise/km, when petrol and diesel cost Rs 5-6/km and Rs 3-4/km respectively. Mahindra Reva is aiming to sell over 30,000 units in the next three years, half of which include the exports. And educating people about the benefits of having an electric vehicle will be the key factor, adds Goenka.

Source: ET

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