Mahindra Reva Electric Vehicle plans to introduce a new electric vehicle in the late 2012 or early 2013 based on a model by parent group Mahindra & Mahindra’s existing portfolio. Mahindra & Mahindra had acquired major stake in Reva in 2010.
Mahindra Reva Electric Vehicle Chief of Technology and Strategy, Mr. Chetan Maini stated that the company will launch an M&M product with the electric vehicle technology in India. He further added that the company is currently testing the technology which has been fitted in M&M’s vehicles.
Mr. Maini also stated the company will gradually introduce a Reva electric vehicle for sale at all Mahindra outlets. The company plans to have 50 outlets by the end of 2011 and will increase the number to 100 outlets by the end of 2012. The Reva car is currently sold by the company through 24 Mahindra outlets and two of Reva’s own outlets. The company is also weighing the possibility of selling its vehicles abroad through M&M’s overseas dealers.
The company is engaged in expanding its production capacity from 3,000 units to 30,000 units with the opening of second production facility at Bangalore.