Indian electric car manufacturer Mahindra Reva is planning to raise its annual sales target to 30,000 electric cars in India by the year 2015-16. The company will be manufacturing 6,000 electric vehicles annually initially at its new production plant and will gradually increase it to 30,000 by 2015-16.
Mahindra Reva which is a part of the Indian auto major Mahindra & Mahindra (M&M) is due to launch its first ever four-seater electric vehicle in the upcoming festive season in 2012 and expects the new electric car to help increase its sales numbers. According to Mr. Anand Mahindra Chairman and Managing Director of M&M, the company views great opportunity in electric vehicles to promote clean and cost-effective mobility.
The company has invested an amount of Rs 100 crore in developing the new four-seater electric vehicle and in setting up a new production plant to boost its sales plans. It currently manufactures the two-seater Reva and has sold more than 4,000 units till date globally.
Mr. Mahindra also commented that the company will be taking up the cause of electric and eco-friendly vehicles to draw various government incentives such as lower subsidies, VAT refunds and lower road tax.