The company plans to launch a slew of models in the domestic as well as overseas markets in the coming year.
The premium e2o has an extended range of 120 km and electric power steering.
The vehicle will be produced at Mahindra Reva's recently inaugurated plant in Bengaluru, the company said.
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.
Company has already put in place around 100 charging points across Delhi and Bangalore.
A variant of the e2o could be exported to the Middle Kingdom, Europe next year.
The e2o, an all-electric, four-seater passenger car, will be the first model under the Mahindra Reva stable to be launched.
Mahindra & Mahindra Ltd, India's largest sports utility vehicle and tractor maker, is bullish on its latest acquisition of REVA Electric Car Company.
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 is manufactured by Mahindra Reva Electric Vehicles.
The much awaited Mahindra e20 launched on Tuesday.
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.
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.
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