Mahindra Reva Targets to Sell 2,500 Electric Cars in India Next Year
Mahindra Reva Electric Vehicles Private Ltd (MREVPL) announced that it is aiming to sell as many as 2,500 units of its electric cars in India next year. In the current fiscal year , it targets to cross the sales figure of 1200 units in the country, as per a statement given by company’s General Manager (Marketing) Pawan Sachdeva to reporters.
The company will commence commercial production of Reva at its newly established Bangalore Plant by April 2011. The new plant will take the total annual production capacity of the company to more than 30,000 units from existing capacity of 14,000 to 18,000 per year.
At present, MREVPL is the only electric car maker in the Indian market. The company also exports its electric cars to several European countries such as the UK, Norway, Spain and France. Mahindra-Reva is currently working on the development of a new four seater model of its electric cars and plans to launch it in the country by year 2012.
Several local jurisdictions in India have offered incentives on the purchase of the electric cars. The company hopes to get the similar tax incentives from other local government for its electric cars.
The MREVPL came into existence after India’s largest utility vehicle maker Mahindra & Mahindra acquired a majority stake of over 55 percent in the Bangalore based electric car company Reva, in May 2010. The Maini family holds a 31 percent stake in this new company while the co-founder Lon Bell, holds an 11% stake in it.
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Posted by admin on Dec 10 2010. Filed under Automakers, Electric, Ev's, Propulsion Type, Tech Sector. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry
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