The country’s third-largest passenger vehicle player, Mahindra and Mahindra (M&M), has tied up with cab aggregator Uber to introduce electric vehicles (EVs) in the latter’s fleet.
The first such fleet would be deployed in Delhi and Hyderabad, and will be gradually expanded to more cities.
M&M, one of the winners of the Energy Efficiency Services Ltd (EESL) tender for EVs, said it would also bid for the second phase of the tender for 9,500 electric passenger vehicles.
M&M’s electric cars on Uber’s platform would include the e20 Plus hatch and the eVerito sedan. Uber’s driver partners will be able to avail of a package, which would include Mahindra EVs at competitive prices, attractive financing, and insurance premiums, along with comprehensive maintenance packages. To make this model sustainable, M&M and Uber will work closely with public and private players that are in the process of setting up a common use charging ecosystem across multiple locations, M&M said in a statement.
M&M, the largest domestic player in the EV segment, has about 4,000 electric vehicles plying on Indian roads. The company has invested Rs 500 crore in the EV business, and plans to pump in another Rs 600 crore in the next two to three years.