Mahindra Exiting The UK’s Plug-In Electric Vehicle Market
As a result of low demand, the India-based firm Mahindra & Mahindra has decided to exit the UK’s electric vehicle market, according to some recent reports. The news originates with a document reportedly seen by Reuters and appears to be legitimate.
The situation seems to be the one that was predicted by a fair number of people when Mahindra announced the specs and pricing for its e2o electric car in the UK market. The pricing just didn’t make sense for what was on offer in many people’s opinions, mine included.
Reuters provides more: “Mahindra’s exit from the UK comes less than a year after it launched the e2o car in a market it considered a launch-pad for selling electric cars in Europe, especially to countries like Norway, Sweden, and the Netherlands.” With that in mind, it seems Mahindra is giving up for now on the European EV market … unless it has plans to try entry in a different European market, but that seems unlikely, especially considering other comments (below).
“The level of e2o sales achieved is at an untenable level for us to maintain the investment required,” Mahindra told a UK buyer in an April letter, according to Reuters, “hence our decision to cease trading at Mahindra UK with immediate effect and retract from the UK marketplace.”
A spokesperson for Mahindra commented in a reply to a query from Reuters: “The Indian EV market is poised for a take-off and given that scenario, we are primarily focusing on the Indian market. We’ll reconsider the UK market at an opportune time.”
For further background on the situation, see: Mahindra Launches 4-Door “e2o Plus” — $8,100 All-Electric Vehicle and Mahindra e2o Is Coming To UK.
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