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SAP India launches unique green car policy- Mahindra Reva buyers to get allowance

Panchabuta had reported in November last year that, India had  launched incentive for Electric Vehicle makers of upto 20% of ex-factory price.  Two-wheeler makers have also been given a subsidy ceiling of Rs 4,000 for low-speed vehicles and Rs 5,000 for high-speed vehicles. A ceiling of Rs 100,000 has been placed on Electric Cars.

Manufacturers would, however, have to register with Society of Manufacturers of Electric Vehicles(SMEV) for availing of the scheme. Registration would be provided on meeting eligibility norms, which include having 30 per cent indigenous content in the vehicles sold, a sizeable operation in retail and after sales outlets and a multi-point check system for accounting the retail sale.

In a major announcement for the EV community earlier this month, presenting the General Budget 2011-12, Shri Pranab Mukherjee, Finance Minister informed that to provide green and clean transportation for the masses, a National Mission for Hybrid and Electric Vehicles will be launched in collaboration with all stakeholders.

As Panchabuta had reported earlier, car maker Mahindra Reva Electric Vehicle (MREV) has recorded a three-fold rise in average monthly sales in the last three months, boosted by incentives announced by the Ministry of New and Renewable Energy (MNRE). Further, average monthly sales of electric two-wheelers has risen 20 per cent, says Sohinder Gill, director, Society of Manufacturers of Electric Vehicles.

According to reports, SAP Labs India has unveiled a unique and generous green car policy under which employees would be able own an electric car at a subsidized cost and get an attractive allowance to own and run it.

The policy, which is in collaboration with Mahindra Reva which makes the Reva electric car, offers as much as Rs 6,000 a month as car allowance, free car battery charging service on the campus, a dedicated parking slot right at the entrance of the campus, an extended battery warranty of 36 months instead of the standard 24 months, free routine maintenance , service on the campus and charging points at owners’ residences.

V R Ferose, MD of SAP Labs India, said all employees who have completed six months with the company would be eligible for the scheme. The employees need to pay only Rs 1,350 towards the EMI (36 months); SAP Labs will pay Rs 6,000. The subsidy of Rs 62,000 to Rs 82,000 offered by the Union ministry of new & renewable energy (MNRE) for the purchase of electric vehicles will be passed upfront to employees . This brings down the cost of Reva cars by 20%. Employees will be offered loans at 12% to pay the cost of the car.

Chetan Maini, chief of technology and strategy, at Mahindra Reva, said SAP Labs had shown the way forward to the corporate sector.

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