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Mahindra & Mahindra Ltd (M&M) is planning to introduce an electric variant of its only passenger car, Verito, in mid-2015.
According to Pawan Goenka, Executive Director, M&M, the electric car will be placed in the taxi and commercial car-rental space. “We are hopeful of it doing well in the categories.”
The diesel variant of Verito has not fared well in the market so far.
M&M is also exploring opportunities for exporting electric cars to Europe, especially countries such as Norway, the UK and France. The company recently launched the 'e2o' electric vehicles in India.
“Ideally, we look to sell around 100 units (of electric cars) a month,” Goenka told reporters at a press conference.
Goenka said a good Rabi season may lead to increased tractor sales from February-March onwards.
Tractor sales“Tractor sales in November were disappointing. Sales will remain tepid in the December-January period as well.”
The company is also planning to launch the petrol variants of cross-over utility vehicles in the SUV and compact SUV segments.
Also, starting with the upcoming S101, M&M will launch dual-fuel variants.
It hopes to regain lost market share through two new launches in the compact car category and one in the light commercial vehicle segment.
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