The country’s pioneer in Electric Vehicle (EV) technology Mahindra Reva has reportedly set up a new plant to manufacture its first full-sized four-seater electric car code named NXR, which is expected to be launched early next year.
According to a report in The Business Line, Mahindra Reva's chief of operations, R. Chandramouli that the new plant near Bangalore would initially be able to manufacture 15,000 units a year, which can be scaled up to 30,000 units. He said customers would be offered the choice of either lithium battery or lead acid battery for the car. According to the report, though the lithium battery will be costlier, it will offer higher speed as well mileage up to 100 km for every charge. The lead acid battery which also powers the existing two-seater Reva, is priced lower but can travel up to only 80 km per charge. The car's design is similar to models such as Maruti Estillo but is much taller than most other cars in the same category. The NXR model will have a steel frame with ABS body which is made of dent-resistant material.
The report also mentioned that the price of NXR will be higher but will be competitive, according to Chandramouli. The price of existing cars range from Rs 3.36 lakh to Rs 3.89 lakh (on road price in Bangalore). Reva sold about 600 cars in 2010 and is expected to sell about 100 more units this year. He was also quoted as saying that even for the existing cars Mahindra Reva plans to fit lithium batteries that have 40 per cent higher battery life. He added that because of the association with Mahindra, which last year acquired 55 per cent in Reva Electric Car Company, its finance arm, Mahindra Finance, now offers a buyback scheme for the customers. According to the scheme, Reva customers will have to make a down payment of Rs 1 lakh for owning the car and another Rs 9,000 a month for a period of three years. At the end of the three years, they can return the car to the company and will get back Rs 1 lakh. He said that as part of the green initiative, Rajasthan and Chhattisgarh have waived VAT on Reva cars and wanted more states to do likewise.
