Reva scouts for partners to make electric cars in US, Europe

Last Updated: Tuesday, November 24, 2009 - 16:15

New Delhi: Bangalore-based Reva Electric Car
Company today said it is scouting for partners in the US and
Europe for setting manufacturing bases.

"We are exploring to set up contract manufacturing
facilities in the overseas market, specially in the Europe and
US," Reva Electric Car Company Deputy Chairman and Chief
Technology Officer Chetan Maini told reporters here on the
sidelines of Environmentally Friendly Vehicle Conference here.

He said the company is "having negotiations with some
local parties but so far nothing has been finalised."

Maini also said the company aims to increase sales to
30,000 units in three years from less than a 1,000 units per
year at present.

"The sales will be around fifty-fifty from domestic
market and exports," he added.

In order to meet targets, the company is expanding its
production capacity. It will commission a new plant in
Bangalore by the mid of 2010 and increase the production
capacity to 30,000 units in three years.

The current facility at Bangalore has an annual
production capacity of 6,000 units per annum.

"We have invested around Rs 30 crore for the first phase
of the new plant and we will continue to invest more for step
by step expansion of the plant once it becomes operational,"
Maini said.

PTI



First Published: Tuesday, November 24, 2009 - 16:15

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