Arvind Mathew, Chief Executive Officer, Mahindra Reva said the technologically laden e2o is attractively priced at Rs 5.59 lakh (ex-showroom Hyderabad for premium variant) including the Government's FAME Demand Incentive.
The Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme envisages providing demand incentives to electric and hybrid vehicles -- from two-wheeler to buses – in range of Rs 1,800 to Rs 66 lakh.
In addition, the customer has to pay a fixed monthly e2o care protection plan of Rs 2,999 for 5 years which is valid for 50,000 kms, he said.
"It is our humble effort to make electric vehicles more accessible and easy to use for our customers in this city. We will keep our innovation quotient high to create an entire ecosystem to sustain a clean and green environment for a better tomorrow," he said.
Also, the timely intervention of the Central Government through the FAME scheme was a definitive boost to the EV industry in India and has put into motion better affordability for electric vehicles, he said.
Refusing to elaborate on the operational break-even, he said the company is currently selling about 100 units a month.