Mahindra & Mahindra expect EV segment to be stable in next five years in India. Mahindra e20 plus taxis in Nagpur crossed over 25 lakh kilometers in one year with 100 EV vehicles. This is a milestone for company. Price of EV vehicles are coming down mainly due to reduction in battery cost, which has already gone down by 20-25 percent over the last two years. Prices will further drop if subsidy provided. Another phase of faster adoption is hybrid and electric vehicles.
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