Mahindra & Mahindra (M&M) is working on an electric car that will be bigger than the Reva brand, said a senior company official. The four-seater, under development, will hit the market by 2010.

Reva sells at a base price of Rs 3.5 lakh in Bangalore and Rs 2.9 lakh onwards in New Delhi. In the European market, the car sells for 12,000 to 13,000 euros. The M&M electric car would costlier. It will run on lead acid battery initially and on nickel metal hydride later, sources said.

M&M plans to launch the product in India and then take it abroad. This is contrary to the plans of Tata Motors, which is working on an electric car project for Norway and plans to launch the product there by the end of this fiscal and then make it available in other markets.

For further information: Financial Express