Reva to roll out two new electric cars soon
Bangalore: The maker of India`s sole battery-run car, Reva Electric Car Co., is setting up a second plant in the country`s tech hub to roll out two new models next year for domestic and export markets, a top company official has said.
"We are investing Rs 300 million (Rs 30 crore) in the second plant that will eventually have an installed capacity of 30,000 units per annum," Reva co-founder and deputy chairman Chetan Kumar Maini said.
The 14-year-old firm has raised USD 20 million (Rs 960 million) from global investors Draper Fisher Jurvetson and Global Environment Fund for this.
The company displayed prototypes of the two models at the 63rd Frankfurt International Motor Show (IAA) September 15-27.
The first model - Reva NXR (next revolution) -- is a four-seat, two-door hatchback family car.
The second model -- Reva NXG (next generation) -- is a sporty two-seater with a targa roof, designed by renowned automotive designer Dilip Chhabria.
"We plan to roll out NXR by mid-2010 and NXG a year later (mid-2011)," Maini said on the sidelines of a conference.
"Export version of NXR will run on a Lithium Ion battery, with a top speed of 104 km per hour and a range of 160 km on a full charge. The lead acid battery variant, with 80 kmph speed and 80 km per charge, will be sold in the domestic market," he added.
The 14-year-old firm, a joint venture with AEV LLC of the US, has a greenfield plant in the Bommasandra industrial area on the outskirts of the city, with an installed capacity of 6,000 electric vehicles (EV) per annum.
"We have exported about 1,500 cars to 24 countries across Europe, Asia and South America over the last five years. Global auto dealers have shown keen interest in the new models at the Frankfurt auto show," Maini asserted.
Though Reva has been pitching hard to sell its electric cars in the domestic market since 2003, lack of awareness and absence of an official policy to encourage eco-friendly cars, as in Europe and lately in the US and China, have proved to be obstacles.
As a result, sales of Reva cars in the domestic market have been stagnant unlike in the case of petrol/diesel passenger cars, which have registered double-digit growth over the years, with a range of models across segments.
"The new plant will have one of the lowest dust-to-dirt carbon footprints of any car in mass production," Maini said.
Reva has formed a joint venture with global automaker General Motors India to roll out an electric version of GM`s Spark compact car platform next year for the domestic market. The tie-up will also enable Reva to market its vehicles through GM`s distribution network.
The joint venture will work with the Central and state governments to build infrastructure for electric vehicle charging and providing incentives to consumers.
"To fight global warming and reduce carbon emissions, electric vehicles cars are an alternative to fossil fuel-driven cars. Though awareness of impact of climate change is growing, pro-active policies and incentives by the government will encourage people to go for eco-friendly transport system," GM India managing director Karl Slym said.
More from India
More from World
More from Sports
More from Entertaiment
- IAF Mirage fighter plane lands on Yamuna Expressway!
- 'Maggi' under regulatory scanner for excess amount of lead, MSG
- Watch: Michelle Obama's 'Gimme Five' fitness video
- When Subramanian Swamy shocked people at a wedding!
- Mumbaikars join hands to save Pakistani teen with rare illness
- DNA: Analysis of Hurriyat chief Syed Geelani's passport issue
- DNA: Analysis of traffic system of Vancouver, Canada
- Mumbai: Diamond export company denies job to Muslim youth
- Aapke Sitare: Astro prediction for May 21, 2015
- Mirage 2000 fighter jet landing was part of capability demonstration: IAF
- DNA: IAF Mirage 2000 fighter plane lands successfully on Yamuna expressway
- DNA: Osama documents show 'Indian brother in Madinah' financed al Qaeda
- PM Modi's key campaign team member may join Nitish Kumar
- Woman robbed at gunpoint inside Hyderabad ATM
- Watch: Top 25 Headlines @10 am
- RBSE (rajresults.nic.in) Class 12th science and commerce results 2015: Rajasthan Board Class 12th XII exam results 2015 expected to be announced on May 21
- RBSE (rajresults.nic.in) Class 12th science and commerce results 2015: Rajasthan Board Class 12th XII exam results 2015 to be announced today at 4 PM
- JAC 12th Inter Arts Result 2015: JAC 12th Inter Arts Result 2015 (jharkhandeducation.net) likely to be announced on Thursday May 21 at 1 PM
- CBSE Class 10 Results 2015 to be announced today?
- IAF jet lands on Yamuna expressway
- Check Jharkhand Board jac.nic.in: Class 12th Art Results 2015 declared
- Log on to apeamcet.org AP EAMCET Results 2015: Andhra Pradesh EAMCET Marks and AP EAMCET Ranks 2015 declared
- Andhra Pradesh EAMCET results 2015: Andhra Pradesh EAMCET results to be announced on May 21 at www.apeamcet.org
- Fawad Khan doesn’t want intimate scenes with Sonam Kapoor?
- We hire only non-Muslim candidates, diamond export firm tells Muslim youth
- Is MSG in 'Maggi' noodles harmful for you?
- DHSE (dhsekerala.gov.in) 12th Result 2015: Kerala DHSE Class 12th XII exam results 2015 to be announced on May 21
- Mumbai firm booked for denying Muslim MBA graduate job on religious grounds, probe ordered
- SSLC (tnresults.nic.in) Tenth 10th Results 2015: Tamil Nadu Board Class 10th X Higher Secondary exam results 2015 to be declared on May 21
- 'IAS officer DK Ravi possibly committed suicide, suffered big loss in real estate business'