Mahindra e2o set to Redefine the Future of Mobility

NEW DELHI, India, March 18, 2013 /PRNewswire/ --

Link to Press Release and Photos:  http://www.mahindra.com/News/Press-Releases/1363604730

    Synopsis:
 
    - Mahindra unveils its future-ready, next generation all-electric, zero emission Mahindra e2o (powered by Reva) at India Gate, New Delhi
 
    - Mahindra e2o is a manifestation of Mahindra's vision of the Future of Mobility, expressed by the 5C's framework - Clean, Convenient, Connected, Clever and Cost Effective.
 
    - USD 20 million invested in development of Plant and next generation vehicle
 
    - Mahindra dedicates the e2o to the nation
 
    - Fully automatic with Boost Mode for quick acceleration and a range of 100 km, making it ideal for city driving
 
    - Easy to charge from any 15A power socket available at all homes
 
    - Unique connected car technologies that allow customers to remotely access their car from a smart phone app (switching on the AC remotely, locking/unlocking the car from anywhere, etc.)
 
    - REVive(R) - the first of its kind remote emergency charge activated through the smart phone app or a call to RIA (Remote Interactive Assist)
 
    - Attractively priced at US$ 11,037 in India (1 US$ = Rs. 54) (on-road Delhi, post state subsidy)

Mahindra Reva, India's electric vehicle pioneer, part of the USD 15.9 billion Mahindra Group, unveiled its all-electric, zero-emission 'Mahindra e₂o' at a ceremony at India Gate in New Delhi.

Present on the occasion were Dr. Farooq Abdullah. Hon. Minister for New and Renewable Energy, Mr. Praful Patel, Hon. Minster, Heavy Industries and Public Enterprises and Mrs. Sheila Dixit, Chief Minister of Delhi, together with Mr. Anand Mahindra, Chairman, Mahindra Group and Dr. Pawan Goenka, Chairman, Mahindra Reva Electric Vehicles Pvt. Ltd.

The Mahindra e₂o is an Electric Vehicle (EV) designed as an urban mobility solution for a sustainable zero-emission society and gains relevance in the face of issues like environmental degradation, pollution related health concerns, climate change, energy security and rising oil prices, all of which plague communities globally. The vehicle is the Mahindra Group's endeavour to offer its customers a clean, smart and economical personal mobility solution.

The Mahindra e₂o is a manifestation of Mahindra's vision of the 'Future of Mobility' which encompasses the '5Cs' framework of Clean, Convenient, Connected, Clever and Cost Effective vehicle technology. This could well shape the way people commute in the 21st century. The Mahindra e₂o will go on sale immediately at select Mahindra dealerships nationwide in a phased manner. The vehicle is priced at US$ 11,037 in India (1US$ = Rs. 54) (on-road Delhi, post state subsidy).

Mr. Anand Mahindra's speech at the launch:

Ladies and Gentlemen of the Press,

I last had the privilege of interacting with many of you at the inauguration of the IGBC Platinum-rated manufacturing facility of Mahindra Reva at Bangalore. I talked about the belief of the Mahindra Group, that the future of mobility will be built around the 5C's - the future will be Clean, Convenient, Connected, Clever and Cost-effective.

The e2o is the first product that showcases the 5C framework in action. It is therefore, the first avatar, if you will, of our vision for the future of mobility. The privilege of talking about the car belongs to the people who created it, and you will hear from them soon. I want to talk to you right now about something different. I want to talk about a way to take the future of mobility further. I want to talk about how we want to create that future, instead of waiting for it to happen. I want to talk to you about the power of tapping a billion brains.

The Egyptian writer Naguib Mahfouz said "You can tell whether a man is clever by his answers. You can tell whether a man is wise by his questions."  

All over the world, cultures tend to reward people for having the answers, rather than for asking questions. In school, we are always rewarded for having the right answer, never for asking a good question. In business, youngsters are expected to solve problems, not raise them. But, when you think about it, every great breakthrough starts with a question - a question somebody asks and refuses to give up on. So, Isaac Newton asked why the apple fell to earth? Gandhi asked why should the weak always submit to the power of brute strength? Someone at Apple asked why should computers occupy an entire room? And there are probably many in the automotive space who are asking why should our future merely be a continuation of the past?

In Bangalore, I had mentioned that we would soon be starting a movement where we would invite all stakeholders to co-imagine and co-create the future of mobility with us. Well, we've done that.  We have just launched a movement to harness the power of questions. We have just launched the "ASK" movement, where through a digital platform we ask people to ask questions. "Think and Ask. Ask and Rise" is our call to action. Through the ASK platform, we want to tap into the curiosity, imagination and thought of everyone. We are asking people to send us questions that they are grappling with, questions that they think are important enough to tackle on a priority. Beginning with the larger questions, we hope to funnel down to questions pertaining to the future of mobility - and from here will begin the process of co-creating the future of mobility. We launched this in Mumbai last week, and will gradually take it to all corners of the country. Social media, IT, connectivity are all enabling this to happen.

The key word is ASK. Ask that question.

Why on earth are we doing this? However earnestly we spout all this stuff, you WILL be asking yourselves THIS question. The job of a journalist is, quite justifiably, to be cynical.

And you would also have been asking, why Mahindra thinks it can succeed when multi nationals seem to be facing challenges in ramping up its enormously ambitious plan. When recent articles suggest that the sheen is off electric vehicles.

We asked ourselves the same questions, and we concluded that we have to succeed because there is no other choice. We HAVE no choice.

Let me explain what I mean when I say we have no choice. When you look around you today you will see an India that is apparently following the history of many emerging markets that became miracles of economic development. High GDP, investments in infrastructure, (yes, believe it or not, they are going to be made in India!)  a rapidly rising consuming class are the telltale signs of this development trajectory.

I say to you however, that what lies ahead for India--if we simply follow the same path to development and growth--is a Malthusian nightmare. The old linear solutions won't work. The world's repository of knowledge about urban habitation isn't suited for countries of over a billion people living in dense clusters.

It's not just about transportation. It's about how Indians expect to live in urban habitats without turning them into violent battlefields over resources: water, power, food....

And so we realised that the future of mobility is a subset of the future of urban sustainability in countries like India and China and in much of the African continent. We plan, in future, to focus much of the Group's intellectual and commercial resources in looking for answers. Our group spans the relevant sectors: transport, housing, solar, Agri, logistics, and we have the capacity to conceive of integrated solutions. This is, of course a much wider and ambitious endeavour.

But for today the short point is that we have recognised that mobility is a subset of broader urban design. And if we try to promote a new philosophy of mobility by simply trying to sell just another CAR with an interesting alternate drivetrain, we would be doomed to fail.

So what we are trying to do, with humility, and with calibrated expectations, is to ask people to consider a different lifestyle...to Ask the right questions, to find unique answers, and to buy into a new way of living and moving, that is aligned to those new questions and new answers.

What we are trying to do is to make our offering part of a larger ecosystem which involves clean energy right from the source, and which provides convenience in tapping into that energy whether at work or play. Which allows them to become providers of energy back into a smart grid when they are not using it.

If people subscribe to that ecosystem, then they will be empowering a more sustainable form of urban living.

To put it very simply, therefore, we want people to buy the e2o because they asked the right questions about how they want to live, and found the right answer.

We believe that's the only way to sell an electric car. No matter how long it takes, we have no choice, but to succeed in this enterprise.

About Mahindra Reva

Mahindra Reva is a pioneer of electric vehicle (EV) technologies and one of the world's most experienced EV manufacturers.  Founded in 1994 as the Reva Electric Car Company, the company was a joint venture between the Maini Group of Bangalore and AEV LLC of USA.  Reva focused on creating affordable electric cars through advanced technology and launched its first model in India in 2001 and in London in 2004.

In May 2010, the USD $15.9 billion, Mahindra Group acquired a majority stake in the company, which was renamed Mahindra Reva Electric Vehicles Pvt Ltd. Mahindra Reva is headquartered in Bengaluru, India.

Mahindra Reva exemplifies the Mahindra Group's vision of the Future of Mobility. The Future of Mobility envisions an automotive ecosystem that brings Clean, Convenient, Connected, Clever and Cost-effective (the 5 C's) mobility solutions to customers across the world. Today, Mahindra Reva has one of the world's largest deployed fleets of electric cars - customers in 24 countries have driven their Revas petrol-free for over 200 million kilometers. The company manufactures cars, licenses out its electric vehicle technologies, electrifies existing platforms, and helps to deliver integrated zero-emissions mobility solutions.  The company's new factory in Bengaluru, the first automobile plant to get platinum rating from the Indian Green Building Council, capable of producing 30,000 cars per year, was inaugurated in August 2012.

Recently, Mahindra Reva was ranked 22^nd in the prestigious 'Fast Company' magazine listing of the Top 50 Most Innovative Global Companies of 2013. The company also won the 'Innovation' award from respected Italian magazine, Focus, during March 2013. It is one of only three global companies to have received this award for the development of the new 'Mahindra e₂o' and the new environment friendly plant at Bengaluru.

About Mahindra Group  

The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.

A USD 15.9 billion multinational group based in Mumbai, India, Mahindra employs more than 155,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel and two wheeler industries.

In 2012, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world.

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Mahindra & Mahindra Ltd.                                             
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