Mahindra and Mahindra (M&M) is looking at various cost reduction measures, including lowering driving range of its electric car e-Verito, in order to be price competitive to supply electric cars to EESL.
M&M coupled with Tata Motors are the only two companies selected by state-owned Energy Efficiency Services Ltd (EESL) to supply 500 electric cars in the first phase.
The orders for supply of nearly 9,500 electric cars in the second phase will be issued after the completion of deliveries of the 500 EVs in the first phase.
M&M has stated that it would not supply more than 150 electric cars in the first phase as it would incur losses if it goes beyond that.
"One area that we have potentially identified is that the range we have designed our vehicles for is more than what is required in the tender," M&M Managing Director Pawan Goenka told
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)