Monday, December 26, 2011
By Manoj Kumawat
Polaris eyes to grab electric car market in India
The US based manufacturer of All Terrain Vehicles (ATV) Polaris Industries is considering the launch of electric cars in India. The company plans to launch its inaugural electric cars in the form of Polaris Gem and Polaris Breeze that it sells in American and European car markets. The distinct company Polaris that is so far recognized as the off-road and adventurous vehicle producer in the country is aiming to earn the returns of INR 500 Crore by the year 2016 from Indian market.
The company is aware about the fact that the country lacks “infrastructure for electric vehicles” such as maintenance, servicing and most importantly the battery charging stations. As a result, it will primarily resolve these issues after which the electric cars will be introduced. As per the company, nearly 50 percent of its estimated revenue will turn up from the utility vehicles that are utilized in the mining and industrial functions.
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Continues rise in the fuel prices had caused a major dip in car sales in the country therefore many automobile majors mull over the launch of electric cars in India. The dominant market leader Maruti Suzuki will showcase the electric version of its famous hatchback Maruti Swift at the 2012 Delhi Auto Expo.
While the other auto giants that will be seen displaying their electric powered vehicles include Nissan Motors, General Motors, Mahindra & Mahindra along with Honda Motors and Ford Motors. The most promising of all will be home based utility king Mahindra & Mahindra that may unveil its full-fledged electric car Reva NXR that has the capacity to seat 4 adults.