Mahindra Electric expects to double EV sales in FY20 too

Mahindra Electric, a part of the Mahindra group, on Tuesday said it expects to continue with the sales momentum of the last fiscal in which it doubled sales on the back of its focus on electric vehicles for fleet operators and three-wheelers.

The company, which saw electric vehicles sales grow two-and-a-half times to 10,276 units in 2018-19 from 4,026 units in 2017-18, has also started supplying EVs to state-owned EESL for the second phase of a combined 10,000 units order. “Last year we have more than doubled (sales)…The growth rate will not be lower than what achieved last year, I don’t see it falling this year,” Mahindra Electric CEO Mahesh Babu told reporters here.

Stating that the company has been “almost doubling” its EV sales, he said the growth will continue to be driven through partnership with new age smart mobility providers like Smart Blu and SmartE besides supplies to Energy Efficiency Services Ltd (EESL). “The strategy for 2019 will be more on fleet and three wheelers,” Babu said, adding the company expects large offtake of its electric three-wheeler Treo once registration issues are sorted out at various states.