Having launched its electric car ‘e2o’ in the UK, Indian auto major Mahindra & Mahindra (M&M) is now keen to drive into other advanced European markets including Sweden and Norway as part of its business expansion plans for this new vehicle segment.
The company is bullish on advanced countries in terms of electric vehicle markets on account of affordability and other issues. To cash in on opportunities available, e2o was launched just two months after rolling out GenZe electric scooter in California (USA). “When you look at countries which are going to be early adopters, those are countries which are more advanced because the affordability is the key issue given battery costs are high at this stage. So by definition, electric cars will be more affordable in affluent economies,” Mahindra Group Chairman Anand Mahindra told PTI.