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Mahindra Electric, the electric arm of Mahindra & Mahindra has reported record-setting sales of its electric vehicles.
As per the report, the company was able to sell 2000 units of eVerito, eAlpha and Electric Treo cumulatively in October 2019. The numbers represent a good future for the Mahindra Electric in the country. So far, the numbers are the best from the time the electric vehicles are launched. Among the three electric vehicles, Treo model contributed the most.
The model had launched a year ago in November 2018 at an ex-showroom price of Rs. 2.2 Lacs.
Treo meant to provide the last mile mobility solution in metro cities. The Treo model is powered by 7.47 Kw Lithium-ion battery that churns 5.4KW of peak power and 30Nm of torque.
It takes around 4 hours to fully charge the electric rickshaw which then can run for around 130km.
The reason the electric segment is seeing a boom as per the CEO of Mahindra Electric, Mahesh Babu is the affordability, convenience to users and earning potential for the driver. Earlier the lead acid-based e-rickshaws used to dominate the unorganized segment but now things are changing rapidly.
The company saw an increase in sales at the times when the auto sector is experiencing a slowdown.
Also, the electric vehicles were seen in a different view by the public due to its affordability and charging issues.
On the occasion of record-breaking sales, Pawan Goenka, MD, M&M congratulated his dealers.
Meanwhile, the chairman of M&M group Anand Mahindra laid stress on the need to report retail sales to project industry estimates.
Anand Mahindra tweeted – “The industry really needs to switch to reporting retail and not wholesale volumes. There are some strong signs of life in the market. And pipeline stocks have been slashed by controlling billings to dealers. Very appropriate stock levels now."