Mahindra to Bid For Second Stage of Tender to Supply Electric Vehicles to EESL
The EVs procured under the tender will be used to replace petrol and diesel cars being used by the central government and its agencies over a 3 to 4-year period.
Mahindra Logo. (File Photo: Reuters)
Auto major Mahindra & Mahindra today said it will bid for the second stage of the tender for supplying 9,500 electric vehicles (EVs) to state-run Energy Efficiency Services Ltd (EESL). "We will bid for the second stage of EESL tender," M&M Managing Director Pawan Goenka told reporters.
The order for the second phase will be issued after the completion of deliveries of 500 EVs in the first phase by November 30. M&M had earlier said that it would have to take a "hard look" whether it would be justifiable to participate in the second phase of the tender as it was finding it difficult to match the per unit price being offered by Tata Motors.
Tata Motors had quoted the lowest price of Rs 10.16 lakh exclusive of GST for the tender. Later, Mahindra also decided to participate in the tender.
The EVs procured under the tender will be used to replace petrol and diesel cars being used by the central government and its agencies over a 3 to 4-year period. Goenka said the company is looking to ramp up the EV production to 5,000 units by the end of 2019.
"Currently, we have 4,000 EVs on Indian roads which amount to around 50 million kms of drive," he added. Goenka said the company is making progress in the long-term contracts in assembling batteries, manufacturing of motors and power electronics. "We have invested Rs 500 crore in EV technology till date. Another Rs 600 crore will be invested over the next 2-3 years," Goenka said.
Also Watch: Maruti Suzuki's Senior Executive Director, RS Kalsi Asks #PehniKya?
Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.
Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.
Recommended For You
- Prabhas and Raveena Tandon Dance on 'Tip Tip Barsa Pani' on Nach Baliye 9
- Woman, Whose Rendition of Lata Mangeshkar Classic Went Viral, Records Song for Himesh Reshammiya
- Metz M55G2 4K Android TV Review: So Good, it Should Cost a Lot More Than Rs 42,990
- Jio Effect: Tata Sky Broadband Offers 6 Months Additional Usage on Annual Plans
- Android 10 Confirmed to Arrive on All Nokia Smartphones