Mahindra Reva was founded in 1994 as the Reva Electric Car Company, and launched its first model in India in 2001 and in London in 2004.
Describing a vision of the “future of mobility,” Anand Mahindra, Managing Director of Indian conglomerate The Mahindra Group, formally inaugurated a new manufacturing facility in Bangalore, where Mahindra Reva Electric Vehicles Pvt. Ltd. plans to build up to 30,000 EVs per year, mostly for the export market.
Mahindra Reva was founded in 1994 as the Reva Electric Car Company, and launched its first model in India in 2001 and in London in 2004. In May 2010, the massive Mahindra Group acquired a majority stake in the company.
“The idea of this plant was conceived by Chetan Maini (founder of Reva car company) and after taking over Reva, we have put in our expertise in setting up new car plants. We will showcase this plant as the most eco-friendly car plant in the country,” Anand Mahindra told reporters. “To begin with, we are aiming at selling 6,000 cars per annum in the domestic market. Until the eco-system for rapid charging is developed in the country, we will focus more on exports.”
Mahindra Reva plans to launch its next-generation electric car, NXR, this year. It hopes to bring down the price of EVs if and when the government comes out with an incentive package, Mr. Mahindra added. “We hope that the government will emulate Scandinavian countries in bringing out a policy for electric vehicles.” He also said the company would provide some rapid charging stations to state governments and help build the eco-system to promote electric cars.
Source: Mahindra Reva