The scheme, dubbed “Goodbye fuel, hello electric”, means that drivers can buy the e20 with a down payment starting from Rs 4.99 lakh and then pay a monthly energy fee starting from Rs. 2,599 which will allow the customer to drive 50,000km over five years, locking in the running cost.

It also guarantees the performance of the battery as the ownership of the battery lies with Mahindra Reva. The scheme also offers 24×7 assistance and a courtesy car guaranteed during the battery repair period.

Chetan Maini, chief executive officer, Mahindra Reva Electric Vehicles Pvt Ltd, said: ‘This first of its kind initiative, guarantees customers’ battery performance coupled with inflation proof running costs. We firmly believe this ownership experience will set a milestone in the way people perceive and own electric vehicles in the country.’

The announcement comes as Mahindra Reva launches its Quick2Charge DC Fast Charging station with its new smart port technology that offers full charging of the e2o in under 60 minutes.