Govt order helps Mahindra EV sales rise 2.5 times to 10,276 units in FY19

Homegrown auto major Mahindra & Mahindra's electric vehicle (EV) sales grew over two-and-a-half times to 10,276 units in 2018-19, riding on the second phase of orders for electric cars from state-owned EESL. The company, which sells a range of electric vehicles such as sedan e-Verito, van e-Supro, compact car e2o and three-wheeler Treo, had sold 4,026 units in 2017-18, M&M said in an investor presentation. EESL's phase-II order led to the volume growth, and the deliveries will continue in 2019-20, it said. M&M along with rival Tata Motors had bagged orders from Energy Efficiency Services Ltd (EESL), which had floated tenders for supply of 10,000 electric sedans for usage by government departments. In the first phase of the order, EESL had taken deliveries of 500 electric cars; out of which, M&M supplied 150 and the rest by Tata Motors. M&M said the FAME-II incentives will benefit its EV portfolio and the Treo and e-Supro cargo has already qualified for the benefits

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