more-inMahindra & Mahindra Ltd. (M&M), which recently lost a 10,000 electric vehicle (EV) supply contract to Tata Motors, has questioned the latter’s aggressive pricing in its bid with the government’s Energy Efficiency Services Ltd. (EESL). “The price quoted by the L1 bidder [Tata Motors] was significantly lower than us,” M&M managing director Pawan Goenka, said on a conference call. On the other hand, Tata Motors was yet to put a single EV on the road, Mr. Goenka said. In the first phase, EESL is buying 500 vehicles out of which M&M agreed to supply 150 units at a loss of ₹3.2 lakh per unit. However, M&M is unsure of participating in that phase as it would not afford to incur huge losses.

Source: The Hindu October 05, 2017 16:18 UTC