Motilal Oswal
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Motilal Oswal

Electric Vehicles sector needs more non-fiscal incentives, says Mahesh Babu of Mahindra Electric

Updated : June 04, 2019 04:54 PM IST

Electric Vehicles sector needs more non-fiscal incentives, said Mahesh Babu, CEO of Mahindra Electric, adding "fiscal incentive alone does not now take EV to the next step."

"With FAME 2, with a clear policy for the next three years and with clarification on FAME 2, I do not think anything more is needed in the Budget," he said in an interview with CNBC-TV18.

"As Mahindra vehicles, we have completed about 130 million kilometres on Indian roads on electric mobility. So, we have a lot of experience. Blu Smart is a very dynamic startup. They have a very large mission to deploy 500 vehicles within this year in Delhi. So, eVerito being the best available electric vehicle in India, we are selling the electric eVeritos and we are giving them connected solutions through our NEMO platform to power their Blu app... so, the partnership is to make sure the startup is successful economically," Babu added.
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