Latest Car News in India

Tuesday, October 11, 2016

By Manoj Kumawat

Mahindra & Mahindra Eyeing China’s Electric Car Market

 Mahindra Eyeing China’s Electric Car Market

It is reported that India’s largest SUV maker Mahindra and Mahindra are looking for a joint venture partner in China to sell and manufacture its Electric Vehicles in the world's biggest car market. According to Arvind Mathew, Chief Executive Officer of Mahindra Reva Electric Vehicles Pvt. Ltd., “The Company currently sells electric cars in the U.K. and Indian subcontinent and is open to offering its powertrain technology to buyers other than its parent.” We are continuously looking at the Chinese market to build up scale as it has all range of electric cars, including two-wheelers, three-wheelers, cars and buses, he said.

For Mahindra, manufacturing in China is an essential stride because imported automobiles are liable for a 25 percent obligation and don't meet all requirements for government subsidies, making them less appealing against locally produced vehicles. Also the Government in China is targeting for 5 million EV’s to ply on its roads by 2020 to promote its goal of energy security and pollution control.

Mahindra e2o

China is not only a fast-growing electric market but also highly competitive with strong local electric-car companies," said Kavan Mukhtyar, a management consultant at PricewaterhouseCoopers in Mumbai who's advised auto industry executives. "For Mahindra, what matters most is learning from the Chinese market. Eventually, Chinese electric-car companies will enter the Indian market."

In India, electric cars will gain popularity as air quality worsens, Mathew said. The government should consider following other countries in offering incentives for battery production and address a lack of charging infrastructure, he said.

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