Mahindra Electric Mobility on Friday said it will deliver over 500 Treo electric autorickshaws in the next few months for sustainable last-mile mobility in 12 cities.
The company is one of the empanelled original equipment manufacturers under the RAAHI (Rejuvenation of Autorickshaw in Amritsar through Holistic Intervention) project.
As part of this effort, the company said it handed over the first e-auto to a beneficiary in Amritsar on Friday.
The project is part of the City Investments to Innovate, Integrate and Sustain (CITIIS) programme under the Ministry of Housing and Urban Development.
A total of 12 cities, including Amritsar, have been selected under the CITIIS programme, and Mahindra Electric Mobility Ltd (MEML) will deliver over 500 Treo electric autos over the next few months, the company said in a statement.
Under RAAHI project, a subsidy of Rs 75 000 is given to each beneficiary, with a total outlay of Rs 108 crore, as per the release.
If a beneficiary buys a Treo by paying upfront, the full subsidy amount will be deposited in his/her account.
For those opting to buy the e-auto on loan, Rs 15 000 is credited in their accounts initially and the balance Rs 60,000 will be adjusted in the loan amount.
Moreover, beneficiaries will be offered loans at attractive interest rates under this scheme with a maximum loan amount of Rs 2.5 Lakh for four years,company said.