Mahindra & Mahindra Ltd.

Mahindra & Mahindra (M&M) Groups - Mahindra Reva Electric Vehicles has inaugurated its manufacturing facility in Bangalore which is claimed to be the first platinum rated automobile facility in India. The company has made investment of over Rs 100 crore in plant and product.

In the next three years, the new plant would churn out 30,000 Mahindra Reva electric cars. Besides, the company plans to launch EV 'NXR' by Diwali this year and in the first year, it is planning to sell 6,000 of the new model of EV 'NXR’.

Owing to expense of imported lithium-ion batteries, the cost of Electric car are more than diesel or gasoline vehicles due to which it has got limited market in India. However, the cost per kilometre of Mahindra Reva is much lower at 50 to 60 paise per km which is up to 10 times lower compared to petrol cars.

Mahindra Reva was formed after Mahindra and Mahindra, purchased in May 2010 a controlling stake in the Maini-founded Reva Electric Car Company.