The company, which today launched e20 Plus hatchback priced in the range of Rs 5.46 lakh to Rs 8.46 lakh (ex-showroom Delhi), is also looking at expanding its EV portfolio further.
"As the pioneers in the integrated and electric mobility solutions in India, it has always been our endeavour to make electric vehicles more accessible across segments," M&M Executive Director Pawan Goenka told reporters here.
When asked if the company would also offer electric variants of its existing conventional models, he said there could be a possibility.
Goenka, however, added that as the current models like Scorpio are very heavy and would require more powerful batteries for which M&M is working on new technology that can deliver up to 80KW of power.
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"With the e20 Plus we have completed the entry level EV line up. The next step would be to get into the mid and higher segment," Goenka said without sharing details of the company's line-up of future EVs.
Goenka also said M&M is planning new vehicle with Italian design Pininfarina, which it had acquired in 2015 and there is a possibility of an all electric vehicle.
M&M's electric vehicle portfolio includes small car and light commercial models such as e20, eVerito and eSupro among others and has so far sold 7,000 units. Since launching small car e20 in March 2013, it has so far sold around 3,000 units of the car in the country.
The company has marked the entry level of e20 Plus, P2 variant of the vehicle for fleet owners but hasn't disclosed its price yet. The other variants -- P4, P6, and P8 -- are priced at Rs 5.46 lakh, Rs 5.95 lakh and Rs 8.46 lakh, respectively.
The vehicle comes with a range of 140 kms on one single charge and achieves a top speed of 85 kmph.
The company, which has already invested around Rs 800 crore on its electric vehicles business, including development of technology.
"As a listening organisation, the e20 Plus has been
evolved keeping in mind the feedback from our potential customers," he added.
The e20 Plus is primarily meant for city commuting and comes with various features such as easy hone charging, hill assist, reverse camera, charging ports and smart phone connectivity among others.