Companies

Mahindra Reva likely to launch NXR model early next year

K. Giriprakash Bangalore | Updated on March 12, 2018

Mr R. Chandramouli, COO, Mahindra Reva Electric Vehicles Pvt Ltd (file photo).

To offer choice of either lithium or lead acid battery





Mahindra Reva has 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.

Mahindra Reva's chief of operations, Mr R. Chandramouli, told Business Line 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.

Higher speed

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 price of NXR will be higher but will be competitive, Mr Chandramouli said. 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.

Buy back scheme

Mr Chandramouli said 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.

Mr Chandramouli said as part of the green initiative, Rajasthan and Chhattisgarh have waived VAT on Reva cars and wanted more States to do likewise.

Published on June 29, 2011

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