Homegrown auto major Mahindra & Mahindra is working to apply the learnings from Formula E racing on its electric cars as it looks to ride on rising awareness for eco-friendly vehicles.
The company, which has bagged large orders for its electric cars from taxi aggregators in Bengaluru and the Capital, is hopeful that 2016 will mark the "taking off" for electric mobility in India riding on government support and popularisation through the world championship racing of electric cars, Formula E.
"Our hope is that through the racing we will be able to bring technologies to our road cars. It is a gradual thing," Mahindra & Mahindra Executive Director Pawan Goenka told PTI.
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He, however, hastened to add that it is a long process and not something that would happen in a year as what goes into racing cars are too expensive to come immediately to road cars.
Bullish on the growth of electric vehicles in India, Goenka said taxi aggregators have also shown interest and the company has bagged order for 100 e20 electric car from a firm called Lithium in Bengaluru and for 50 e-Verito sedans from a separate entity.
"This is slowly going to build now. Once the visibility comes in, more and more people will opt for the electric vehicles (EVs). I am hoping that 2016 is the year when EVs really take off in India," Goenka said.
A combination of factors, such as government support and push for EVs, awareness after the success of Formula E racing and the company's own efforts to popularise would help in raising demand for such eco-friendly vehicles.
Commenting on Formula E, he said it has picked up really well globally with packed stands on race days which has also resulted in increased awareness of EVs.
"In India there is no race (Formula E)but there is a lot of TV viewership. I believe India could have a race, that will be a really good thing," Goenka said, adding that for M&M the racing series is about "a fairly large brand play with global coverage" besides all the technological learnings.
Replying to a question, Palle said the company closed last
fiscal with sales of 80,000 used cars. "This fiscal it will be 30 per cent more," he said.
He added that demand for diesel cars is higher than the petrol variants.
"We sell on an average 3-4 year old cars. When you get out of metros, there is a lot of demand for diesel vehicles," he said.
On the challenges in the used car business, Palle said, "...When you are converting an industry from an unorganised nature to an organised nature, when an industry does business a certain way, to do things differently, taking care of the consumer, to make money the right way, all this takes time. I would think that is the biggest challenge".
"Having said that, I think the pull on sort of a trusted transaction is very high. People are willing to wait a little more, they are willing to pay a little more to get the right vehicle and consumer protection from the brand.
"We give tremendous attention to detail to ensure that each used car meets high level of quality...The car undergoes an extensive 118 point quality check, as part of the company's robust certification process. We offer quality assurance, safety and a hassle-free driving experience, making sure that the consumer gets a great experience. We make sure they get a new car experience for a used vehicle," Palle said.
Palle said the company also has products like Indian Blue Book (IBB) which it claims is India's first and only used car pricing guide that incorporates transaction data with an analytical engine.
He added that another product for car evaluation is 'Autoinspekt', which is a third party vehicle inspection service, whose evaluation report helps to determine the condition, quality and value of a used vehicle.
The report covers 53 parameters across 8 vehicle systems of the car and is prepared after physical inspection of the vehicle by a trained engineer.
"Such innovations are immensely helping banks and other financial institutions also...," Palle said.
