Mahindra and Mahindra, the Rs 3,450-crore automobile major, is set to slash prices of its eco-friendly, battery-operated three-wheeler Bijlee. The revised prices will be in the Rs 1.62-1.65 lakh price band against the proposed price of Rs 2.50 lakh.
This move is likely to impact other three-wheeler majors who offer products in the same price band, but for diesel and petrol variants. Currently, there are three leading players in the segment: Bajaj Tempo, M&M and Scooters India.
According to sources, "The company is in talks with Exide India to jointly market batteries on lease, instead of outright sales. The concept works out to be quite simple and is quite like buying petrol or diesel from a fuel station. One can pay about Rs 300 for two sets of batteries which facilitate 180 km of dr