The vehicle will be produced at Mahindra Reva's recently inaugurated plant in Bengaluru, the company said.
Mahindra has been keen on bringing to market cars that would redefine the 'future of mobility' in India.
The premium e2o has an extended range of 120 km and electric power steering.
The much awaited Mahindra e20 launched on Tuesday.
The carmaker was waiting for the government to announce sops for green vehicles in the Budget that would have help price the car lower.
Mahindra Reva has developed technologies that will be seen for first time in its new car, NXR.
Mahindra Reva Electric Vehicles, a part of the Mahindra Group, on Tuesday slashed the price of its electric car e2o by up to Rs 1.7 lakh by introducing a scheme under which a consumer pays a rental fee for the battery.
While the value of the deal could not be ascertained, it is estimated that it could be around $100 million (Rs 450 crore approximately).
The e2o, an all-electric, four-seater passenger car, will be the first model under the Mahindra Reva stable to be launched.
Company has already put in place around 100 charging points across Delhi and Bangalore.
The company plans to launch a slew of models in the domestic as well as overseas markets in the coming year.
The e2o isn't cheap, but it's a huge leap ahead from the original Reva.
A Mahindra group firm and electric vehicle maker, Mahindra Reva will showcase its Formula E car along with a concept electric sports car at the Auto Expo starting next week.
Mahindra Reva tops the Fast Company rankings of India's most innovative companies.
M2M refers to technologies that allow wireless and wired systems to communicate with other enabled-devices.
The e2o is manufactured by Mahindra Reva Electric Vehicles.
Mahindra & Mahindra Ltd, India's largest sports utility vehicle and tractor maker, is bullish on its latest acquisition of REVA Electric Car Company.
Mahindra Racing will enter the new Formula E electric racing series next year with ex-Formula One racer Karun Chandhok set to drive for what will be the only Indian team on the grid.
Mahindra & Mahindra is in talks to buy a majority stake in Pininfarina.
A variant of the e2o could be exported to the Middle Kingdom, Europe next year.
It is estimated that the deal could be around USD100 million.
American car maker General Motors is likely to pull out of its technological partnership with REVA Electric Car Company, after domestic auto major Mahindra & Mahindra Ltd bought 55.2 per cent equity in the Bangalore-based company to stake its place in the fledgling electric vehicle market.
Prasanna D Zore/Rediff.com drives the Mahindra Reva to Pune and comes away impressed with the electric car.
The plaintiffs sought to represent all dealers who entered into agreements with Global Vehicles to sell Mahindra vehicles in the United States.
More than a year after Mahindra & Mahindra bought stake in Reva Electric Car Company, the SUV-maker is gearing up to launch its first compact car -- it promises nine times the mileage generated by the country's most fuel-efficient petrol-powered car.
The automaker was found to have engaged in anti-competitive practices.
The 2-door vehicle may finds its way back in India with the launch of the all-new Thar by Mahindra and Mahindra, says Rajesh Karkera.
Analysts have predicted a 23 per cent volume growth for the auto segment between FY22 and FY25, riding on the company's differentiated EV and SUV plan. M&M is already a market leader with a 36 per cent share in electric three-wheelers, and its Zaheerabad plant in Telangana is ready to cater to demand. In the farm segment, the company plans to focus on niche electric products.
The letter "o" continues to play a superstitious role in Mahindra & Mahindra (M&M's) car launches, as the name of its first electric car after the acquisition of Reva showed.
Joint crack team of Maruti, Tata Motors, M&M to develop hybrid cars in India
India is sceptical that Tesla might import into the country cars made in China. Tesla executives were in India last month and appear to have proposed a factory in the country. But do not be surprised if that does not happen in a hurry.
If the drop in sales over the past two years is anything to go by, India's dream of putting seven million electric vehicles on road by the end of this decade has come a cropper.
The Pune-based research institute will design and develop car batteries and offer the technology for mass production.
The group also said it has plans to extend the electric mobility technology to its two-wheelers, while seeking support from the central government for pushing eco-friendly vehicles.
Four years after entering Formula E racing, Mahindra comes out with a racing car designed for the e-racing circuit. Rajesh Karkera/Rediff.com reports.
Model 3 received 180,000 orders worldwide.
Auto major Mahindra has ambitious plans for its electric cars project, that include ramping up its output to 60,000 units a year, high-end electric powertrains, and 380 to 650 volt battery systems.
GM declined to put a timeframe on when the electric small car would hit the Indian market.
Tesla began taking orders for its $35,000 Model 3 sedan from Indian customers in April last year.
Tesla began taking orders for its Model 3 sedan from Indian customers in 2016 and caught the fancy of people like GOQii's Vishal Gondal, Paytm's Vijay Shekhar Sharma and venture capitalist Mahesh Murthy. Amid hints from Elon Musk, Alnoor Peermohamed reports on Tesla's Indian entry.
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