Rumour: Mahindra Verito EV to be introduced in mid-2015

Mahindra showcased the Verito Electric at consecutive auto expos in 2012 & 2014. While it was believed that the Indian automaker would launch the sedan in 2014, a report suggests that it may now be launched in mid-2015. The Verito EV will initially be placed in the taxi and commercial car-rental space according to M&M automotive & farm equipment sector executive director, Pawan Goenka.

The Verito first arrived in India as the Logan. The sedan is currently offered with a 1.5-litre diesel engine and hasn't seen a great buyer response. However, multiple cab service providers have opted for the Verito. This could be why M&M is hopeful of the Verito EV doing well in the category. Mahindra also plans to export the car to markets in Europe such as the UK, France and Norway.

Mahindra already offers the e2o EV in India. The brand expected sales of 100 units per month, but the model has not received the response Mahindra was hoping for. Weak infrastructural support for EVs, a relatively small range, combined with the price of nearly Rs 9 lakh on road, has seen the e2o's sales stagnate.

The National Electric Mobility Mission Plan (NEMMP) 2020 that was approved by National Council for Electric Mobility (NCEM) in 2012 was put in place to "realize the huge potential that exists for full range of efficient and environmentally friendly electric vehicles". It was estimated that the government would need to provide support to the tune of Rs 13,000–Rs 14,000 Crore over a period of 5-6 years. However, electric vehicles are yet to receive any significant benefits. This results in the expensive technology adding to final price.

Source: Hindu Business Line