Mahindra Electric takes on petrol, diesel cars with affordable lease scheme for e2oPlus EV

Key highlights:

• SmartLease scheme allows customers to buy the e2oPlus for a fixed monthly cost
• Delhi, Bengaluru and Pune has introductory fixed monthly cost of Rs 15,999 for the e2oPlus P4
• Mahindra e2oPlus can be charged fully in just Rs 69

Mahindra Electric on Wednesday that it has partnered with group company Mahindra Finance to introduce a leasing scheme for individual customers of their electric car the e2oPlus. The leasing scheme called SmartLease will allow people to buy the car by paying a fixed monthly cost.

The SmartLease scheme will be available for retail customers of the e2oPlus, across Delhi, Bengaluru and Pune at an introductory fixed monthly cost of Rs 15,999 for the e2oPlus P4 and Rs 17,999 for the e2oPlus P6.

The down payment for the scheme is a nominal Rs 50,000 for Pune and Bengaluru based customers. In Delhi there is an initial cost of Rs 1,50,000 which will get refunded under the Delhi state government subsidy for electric vehicles.

The monthly fixed cost is inclusive of rental, taxes, insurance and maintenance, the company said.

Govt needs to spend about Rs 1.8 lakh crore in electric vehicle infrastructure to meet 2030 target