Mahindra Electric banks on Uber, Ola, Zoomcar for its future growth

Since the acquisition of Reva Electric Car Company from the Maini family in 2010, which marked its entry into the electric cars segment, Mahindra Electric has been able to sell 4,500 cars

Facing stagnancy in passenger car sales of electric vehicles, Mahindra Electric is focussing on sales to fleet operators like Uber, Ola, Zoomcar and others, to drive growth in this segment.

Mahesh Babu, the company's CEO said that in the last fiscal year, the company was able to sell more than 4,000 vehicles, of which passenger cars accounted for around 1,300 units. It accounted for around 0.5 per cent of the entire sales volume of Mahindra & Mahindra in the last fiscal year. 

While this year, riding on optimism over adoption of electric vehicles in many Indian states and formulation of