The three companies are working on developing components and systems to ensure common standards, besides helping to drive down costs, Mahindra Reva CEO Arvind Mathew said on the sidelines of an event in Bangaluru on Monday.
The three companies are working on developing components and systems to ensure common standards, besides helping to drive down costs, Mahindra Reva CEO Arvind Mathew said on the sidelines of an event in Bangaluru on Monday.
This is expected to eventually lead to lower cost of ownership of these vehicles, he added.
Although all the three carmakers are working on common standards for all components and systems, each of them will have their own software IPs, according to Mathew.
In April this year, the Government announced the FAME India scheme, which offers cash incentives for those who want to buy hybrid and electric vehicles.
FAME or Faster Adoption & Manufacturing of Electric Vehicles scheme envisages INR 795 crore in incentives for two years as part of the first phase of the National Electric Mobility Mission Plan.
The scheme has been launched in metro cities and it will be later extended to smart cities, tier II and III cities.
The total outlay for this project is estimated at IN 14,000 crore, as per the Ministry of Heavy Industries.
According to the scheme, a customer buying any form of hybrid or electric vehicle will get the incentive in terms of lower cost, while the manufacturer can claim the incentive from the Government.
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