Mahindra Reva e2o Made Affordable; Price Starts At Rs 5L

Mahindra Reva e2o has just become a lot more affordable. India's only mainstream electric car, which previously cost nearly INR 7 lakhs at the very least, can now be yours for as low as INR 4.99 lakhs (On-road Delhi) for the base variant.

In an event held today in Bangalore, Mahindra Reva announced the ‘Goodbye Fuel, Hello Electric' scheme which drastically reduces the initial acquisition cost of the e2o and moreover makes owning the electric car worry free.

This new scheme breaks down the total price of the e2o into two separate chunks - the price of the car, which has now dramatically reduced and the price of the battery, for which the car owner pays a monthly ‘charge'. In fact, Mahindra retains the ownership of the battery and is thus entirely responsible for its maintenance.

Also Read: 2014 Budget - Car & Motorcycle Prices Reduced

The above stated fixed monthly charge is Rs 2,599 which will allow the customer to drive 50,000 kms (at the rate of 800 kms of usage per month) over a period of 5 years. In other words, this monthly charge is the running cost which will remain fixed for the next five years.

Of note is the fact that customers will not gain ownership of the battery even after the 5 year period is over, but is free to sell the car. During this period, however, Reva will be wholly responsible of the battery's maintenance, performance, upgradation and repairs in case it's required and will also provide 24x7 assistance and courtesy car during battery repair period.

Reva also showcased a new Quick2Charge technology DC Fast Charging station at the event, along with the new e2o top end variant.