Mahindra & Mahindra Ltd.

Mahindra and Mahindra (M&M), country’s major automobile maker is seeking subsidy from government to promote electric cars. The subsidy on which the company is banking had expired last year and the government was committed to maintain it but hasn’t done so far.

On March 31, 2012, the Ministry of New and Renewable energy (MNRE) ended a scheme under which 20% subsidy was offered to consumers on purchase of electric four-wheelers and two-wheelers and the scheme was replaced by National Electric Mobility Mission Plan (NEMMP) 2020, which was announced in January this year.

Earlier in March this year, M&M launched its first electric car ‘e2o’ priced at Rs 5.96 lakh (on road Delhi, after state subsidy), almost three years after it acquired Bangalore-based electric car maker Reva.