Mahindra e2o prices slashed by Rs 92,000

Big news for those in the market for an Electric car. Mahindra Reva has cut prices of the e2o electric hatchback by a whooping Rs 92,000. It amounts to a significant 16 percent cut. The e2o will now be priced at Rs 4.79 lakh on-road Delhi, which previously retailed at a steep Rs 5.71 lakh. The e2o benefits from the Central Government Scheme that offers incentives on Electric and Hybrid vehicles.

Mahindra Reva also charges a fixed energy fee of Rs 2,999 per month on the e2o. This will continue even after the rate cut for a period of five years or 50,000km. "We have reduced the prices of e2o by 16 per cent across the markets where it is being sold currently. The reduction makes the car more affordable and attractive to own," Mahindra & Mahindra president & chief executive (automotive) Pravin Shah told PTI.

The Government recently announced the FAME (Faster Adoption and Manufacturing of Electric and hybrid vehicles) scheme recently under which incentives were announced up to Rs 29,000 for two wheelers and up to Rs 1.38 lakh for four wheelers. Rs 795 crore has been allotted by the government which will be spent over the next two financial years.