Mahindra has officially revealed that the replacement of the Reva electric car, the Mahindra e2o will be launched on March 18. The e2o was earlier showcased at the Auto Expo as the Reva NX-R. The e2o will be manufactured at Mahindra’s new plant in Bangalore. This plant, according to the company, has a rated annual production capacity of 30,000 cars. The Mahindra e2o will come with an electric motor that derives power from 48-volt lithium-ion batteries capable of powering the car for about 100km on a single charge. Mahindra sees promise in this project and is considering leasing out the batteries which are an expensive component to replace. With prices likely to range from Rs 5.5-6 lakh, India’s latest EV won’t be cheap but SOPs on electric cars could bring prices down in the future.