Mahindra & Mahindra Ltd has announced the purchase of a majority stake in Bangalore based REVA Electric Car Co. Ltd. Mahindra now owns 55.2% stake in REVA, which will now be known as Mahindra REVA Electric Vehicle Co. Ltd. Buying into an established EV maker is further proof that M&M wants to electrify the Indian auto market, and “book” the segment before players like Nissan jump in.
Mahindra has on its own been working hard on developing eco-friendly technology, under its Sustainable Mobility Initiative. This has seen the development of green technologies such as the diesel hybrid Scorpio and hydrogen Alfa three wheeler. First of its kind in India, Mahindra also launched a 100% biodiesel fleet which has now grown to about 50,000 vehicles. The company is also currently working on an electric version of its Maxximo mini truck. REVA’s EV technology will now be adapted for M&M vehicles.
REVA is currently marketing its products in 24 countries across the world with an overall vehicle population of over 3,500 units, claimed as the largest EV fleet globally. Introduced in London in 2004 under the G-Wiz brand, REVA premiered its next generation electric car models, the NXR and NXG, and the REVive remote emergency charge system, REVA’s unique proprietary technology, at last year’s Frankfurt show.
Pictures of REVA’s latest products after the jump.
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