Press Release

For Immediate Dissemination

Mahindra names its next generation, electric vehicle as e2o

The Mahindra e2o showcases Mahindra Groups Vision of the Future of Mobility

Mumbai, January 7, 2013 Mahindra Reva Electric Vehicles Pvt. Ltd., a part of the US $15.9 billion Mahindra Group, today named its next generation, future ready, electric car as the Mahindra e2o. The Mahindra e2o is the manifestation of Mahindra Groups vision of the Future of Mobility, which was revealed earlier this year by Group Chairman Anand Mahindra. It involves the creation of future-ready vehicles that meet the 5 Cs framework of - Clean, Convenient, Connected, Clever and Cost Effective. The Mahindra e2o is the first step in the creation of an entire electric vehicle value chain and ecosystem by the Mahindra Group.

Pronounced as Ee-too-oh, the electric vehicle has undergone extensive testing, validation and has been certified as road worthy in India. The Mahindra e2o is slated to be launched soon and will be produced at Mahindra Revas recently inaugurated plant in Bengaluru. This is Indias first platinum certified automobile plant and has a rated capacity of 30,000 cars per annum. Started under the project code name NXR, the Mahindra e2o is Powered by Reva, benefiting from Mahindra Revas extensive experience in electric cars. The Mahindra e2o has been named keeping in mind the overall Mahindra Reva philosophy of inspired by orange to go green for sustainable living. The e in Mahindra e2o stands for the energy of the Sun which is abundant and clean. The 2 pronounced as to signifies the connected technologies in the car, while o, represents Oxygen, the life force that sustains all of our existence on Planet Earth. Thus, the name in its totality is a testimony to the Mahindra Groups commitment to a cleaner environment for our planet. Commenting on the Mahindra e2o, Dr. Pawan Goenka, President, Automotive & Farm Equipment Sectors, Mahindra & Mahindra Ltd said, The Mahindra e2o is a game changing development within the personal mobility space that will help the Mahindra Group usher in a positive change in the lives of our customers. We are on the threshold of ushering in a new paradigm across the automotive value chain, by bringing in products and mobility solutions which will bear testimony to our commitment to create a cleaner environment on planet Earth. This is significant step towards creating a comprehensive eco-system of sustainable mobility solutions, encompassing alternative technologies such as electric, hybrid and fuel cells into our research, development and commercialisation plans. Chetan Maini, Founder and Chief of Strategy & Technology, Mahindra Reva Electric Vehicles Pvt. Ltd, said, The Mahindra e2o is a very real solution to power personal mobility for a sustainable future. Based on the Mahindra Groups 5 Cs reference framework, this truly is a technologically advanced mobility solution for the future. Besides being a true friend of the environment, the Mahindra e2o also brings to the Indian consumer cutting-edge technological innovation that will help them remain connected in a convenient and cost-effective manner. The Mahindra e2o will use next generation Lithium Ion batteries and have a range of 100 kms per charge which is adequate for most daily journeys within the city. The Mahindra e2o will

enable users to charge their vehicle through any 15 ampere plug point at home, or at the workplace. Mahindra Reva has also developed and integrated a host of proprietary technologies for the Mahindra e2o, all of them directly inspired by the vision of the Future of Mobility. In addition, the Mahindra e2o is capable of using the futuristic ecosystem of Sun2Car to derive energy from the sun to charge the vehicle, while helping to protect and preserve the environment. Future of Mobility and 5 Cs In August 2012, the Mahindra Group unveiled a movement that seeks to encourage its stakeholders to co-imagine and co-create with it a shared vision of the future of mobility. To kick start the movement, a framework that captures the critical elements of future change - the 5 Cs framework was introduced. The 5 Cs are Clean, Convenient, Connected, Clever and Cost-efficient and when taken together, they define the future of mobility. For more information on the Future of Mobility, visit www.mahindrareva.com About Mahindra Reva Electric Vehicles Pvt. Ltd. Mahindra Reva is a pioneer of electric vehicle (EV) technologies and one of the worlds most experienced EV manufacturers. Founded in 1994 as the Reva Electric Car Company, the company was a joint venture between the Maini Group of Bengaluru and AEV LLC of USA. Reva focused on creating affordable electric cars through advanced technology and launched its first model in India in 2001, and in London in 2004. In May 2010, the USD 15.9 billion, 155,000-employee Mahindra Group acquired a majority stake in the company, which was renamed Mahindra Reva Electric Vehicles Pvt. Ltd. Mahindra Reva remains headquartered in Bengaluru, India, next to Electronics City one of the worlds Information Technology hubs. Today Mahindra Reva has one of the worlds largest deployed fleets of electric cars customers in 24 countries have driven their Revas petrol-free for over 220 million kms. The company produces its own cars, licenses out its electric vehicle technologies, electrifies existing platforms, and helps to deliver integrated zero-emissions mobility solutions. The companys new factory in Bengaluru, which is capable of producing 30,000 cars per year, began production in November 2012.

In 2006, Reva was acclaimed by Business World India as one of Indias Cool Companies and in 2008 was the recipient of the Frost & Sullivan Automotive Powertrain Company of the Year award. In 2010, the Reva i was crowned Green Car of the Year at the Overdrive & CNBC TV18 awards. More details are available on www.mahindrareva.com About The Mahindra Group The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.

A USD 15.9 billion multinational group based in Mumbai, India, Mahindra employs more than 155,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel and two wheeler industries.

In 2012, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world. www.mahindra.com

For further enquiries Roma Balwani Senior Vice President Group Communications Mahindra & Mahindra Ltd. Phone: +91 22 2490 1441 Email: balwani.roma@mahindra.com