Mahindra Reva Launches New NXR Electric Car in 2011

Mahindra took over the reigns of age old Indian electric car maker Reva earlier this year thus severing the latter's ties with General Motors to come up with new other electric vehicles for the Indian market. Now M&M owns a stake in Reva Electric and has complete plans lined up for the launch of Mahindra Reva NXR model by mid-2011.

\The new NXR model is apt for small city rides and will be a four-seater model. The company has already launched its two seater model in cities like Delhi and Bangalore. "We intend to take it to other cities in India. Also, we are all geared up to roll out our four-seater Reva NXR by next year," said Pawan Goenka, president (automotive & farm equipment sector), M&M Ltd.

The company is coming up with its new plant in South India with an investment of Rs 200 crore. "As the current plants are running at full capacity and with no plant in south, we are to finalise the venue in next three months. With a capacity of around 1 lakh tractors, we are planning to roll out 50,000 in the first phase," added Goenka on the sidelines of his visit to Ahmedabad for inaugurating the 101st Samriddhi centre in Gandhinagar.

Mahindra Reva NXR reaches a top speed of 104 kmph while providing a range of 160 km. The NXR can text you with crucial information such as Time-to-full-change, pre-heat or pre-cool the car, mail you a report on your driving habits or even unlock the door as you approach. It also features a revolutionary technology that addresses range anxiety– REVive, a remotely activated reserve charge which will get you going, even when you've seemingly run out of charge.

Mahindra is also planning to launch Korando and Rexton in India next year which will be its brand new SUV models from South Korea.

Source: cartradeindia.com

Mahindra Enters in Electric Car Segment; Acquires Majority Stake in REVA

- Mahindra to have 55.2% equity in REVA Electric Car Company (REVA).
- Company to be renamed Mahindra REVA Electric Vehicle Company (Mahindra REVA)
- Mahindra REVA to leverage Mahindra’s vehicle development expertise
- Mahindra REVA electric technology to be deployed in Mahindra vehicles
- Dr Pawan Goenka elected Chairman of the newly constituted board

Mahindra & Mahindra Ltd. today strengthened its position in the Electric Vehicles domain with the acquisition of a majority stake in REVA Electric Car Co Ltd. Bangalore. REVA Electric Car Co Ltd. will be renamed Mahindra REVA Electric Vehicle Co Ltd. Under the new agreement which was signed today by both the companies, M&M will own 55.2% equity in Mahindra REVA by a combination of equity purchase from the promoters and a fresh equity infusion of over Rs 45 crores (approx US $10 million) into the company. The buyout makes the Mahindra group a strong global player in the electric vehicle space.

Post the buyout, the Board of Mahindra REVA has been re-constituted under the chairmanship of Dr Pawan Goenka, President Automotive & Farm Equipment Sectors, Mahindra & Mahindra. The new board includes five nominees from Mahindra & Mahindra, two from the Maini family, and one from AEV LLC, California (co-founders of REVA). An independent director will be added to the board subsequently. Mr Chetan Maini will continue to play a leading role in Mahindra REVA as Chief of Technology & Strategy and will continue to be on the board.

Under its core Sustainable Mobility initiative, Mahindra has been working for the last 10 years on developing green technologies and has demonstrated diesel hybrid technology on the Scorpio and hydrogen Alfa three wheelers. Mahindra has a pilot fleet operating with 100% bio-diesel and was the first to launch micro-hybrid technology in India with around 50,000 such micro-hybrids on the road today. In EVs, over and above the electric three-wheeler Bijlee developed in 1999, it is also currently working on an electric version of its mini-truck, Maxximo. Mahindra REVA’s EV technology will be adapted for these and other M&M vehicles. Access to strong EV technology will strengthen Mahindra’s other current sustainability initiatives.

REVA is currently marketing its products in 24 countries across the world with an overall vehicle population of over 3500, arguably the largest EV fleet globally. REVA recently premiered its next generation electric car models, the NXR and NXG which received an enthusiastic response. Mahindra REVA will now have access to Mahindra’s vehicle development technology and distribution network, significantly enhancing its ability to launch a state-of-the-art electric vehicle for global markets.

Speaking on the acquisition, Mr Anand Mahindra, VC&MD, Mahindra & Mahindra said, “With issues such as climate change and carbon footprint taking centre stage globally, eco-friendly transportation becomes the need of the hour. Mahindra already has an established sustainable mobility solutions programme and our association with REVA will only help us further expand our green footprint both in India and overseas”.

Dr Pawan Goenka, President (Automotive & Farm Equipment Sectors), Mahindra & Mahindra and the newly elected Chairman of Mahindra REVA said, “This is a key strategic acquisition for Mahindra in its march towards sustainable mobility. Mahindra and REVA bring together complementary strengths. With Mahindra’s vehicle engineering expertise, global distribution network, sourcing clout and financing support, REVA’s vehicles have the potential to significantly gain in market penetration. Mahindra will also benefit from REVA’s EV technology for its own products.”

Mr Chetan Maini, Chief of Technology & Strategy, of the newly formed Mahindra REVA mentioned, “The EV market is poised to grow significantly and we concluded that in order to seize the opportunity we needed the resources and experience of a major automotive manufacturer. In Mahindra we have found a company that not only shares our vision of principled and sustainable growth but one that also has a reputation for good corporate governance. As a result of Mahindra’s investment, Mahindra REVA will be able to scale, innovate and accelerate and so to deliver better products to more customers in more places”.

Source: Mahindra Group

New Chevrolet Spark Electric Coming Soon in India with Incredible Price

General Motors inked MoU with Reva Electric Car Company last year for electric variant of Chevrolet Spark. As per the speculations the project is already running for the new Chevrolet Spark and it will hit Indian roads by October 2010. Lots of people have shown their interest in the electric version of Chevrolet Spark which was recently unveiled at the 2010 Indian Auto Expo by General Motors. This announcement will surely bring plenty of cheer to electric car fans. This will surely gives a new platform to Chevrolet cars market in India.


General Motors India MD and CEO Karl Slym said "We are pleased to join hands with REVA to bring affordable small car platform based electric vehicles to the market in line with government objectives to reduce fossil fuel dependence. We are going to be working closely with the Central and State Governments in India to develop infrastructure for electric vehicle charging and providing specific financial benefits to consumers, who make the choice to adopt an environment-friendly mode of personal transport."

General Motors is also planning to export Chevrolet Spark Electric model to overseas market where Chevrolet Spark currently manufacturing facility available. In overseas market where Chevrolet Spark is being manufactured, General Motors will set up a JV with Reva Electric to set up electric vehicle plants.

The Reva Electric car company has launched two electric car models - the Reva NXR and the NXG – at the recently concluded Frankfurt Motor Show 2009 too much acclaim. Prior to the Frankfurt Motor show, it was revealed that the two companies had decided to work together to produce an electric version of the Chevrolet Spark.

Chevrolet Spark Electric Car Price in India:
The Chevrolet Spark Electric will come with a incredible price tag of 7 Lakh Rs. It will cost at almost double price than its current petrol model. As the small car market is booming and the new car like Chevrolet Spark Electric is coming will surely give General Motors a boost in sales.

Chevrolet Spark Electric Car Photos: