Pawan Goenka, president (automotive & farm equipment), M&M, told FE that the electric vehicles were gaining in popularity worldwide and in the next five years, the demand for such products would be globally much higher giving companies like M&M a big market to tap.
At some date, we are going to use the electronic technology of Reva for our two-wheelers, he said. FE had reported on June 8 that the company is going to leverage its joint venture with Reva to power electric scooters owing to its vast potential.
Goenka also said that the company is going to explore options to use the electric platform for some of its commercial vehicles as well at a later date. Currently, M&M has a range of commercial vehicles from Maxximo to Geo. We are looking at using the electronic technology in our commercial platform, Goenka said. The company in fact is also planning to launch a micro-hybrid version of its SUV Xylo.
The newly-formed company, Mahindra Electric Car, is going to introduce two passenger car models in India in October-December 2011. Goenka added that the refurbished version of the Mahindra Logan is going to be launched in the next 15-16 months. We would be re-positioning the car...over the last two months the sales of Logan has been above 500 which is a positive sign especially when it had gone down to around 300 at one point, he told reporters.
Undeterred by the law suit filed in the US by M&Ms exclusive distributor Global Vehicles leading to inordinate delay in launching the pick up truck, Goenka said that the companys plans to launch its product is going as per the original schedule. Cant sat anything now...we are doing everything as per the original plan for launching the pick up truck in the US, he said.
Currently, the company is in the midst of preparing bids for acquiring the South Korean Ssangyong Motors. Goenka said the bid would be decided by July 20. Apart from M&M, Kolkata-based industrialist Pawan Ruia is also eying the company.
In June, Mahindra-Renaults Logan sold a total of 563 units, a tad higher than June 2009 when the company sold 501 units. Other popular M&M models like Xylo, Scorpio, Bolero, Soft Tops and Hard Tops sold a total of 7,338 units as compared to 7,448 units last year.