Mahindra Reva Electric Vehicles Ltd. (MREVL), India’s electric car manufacturer recently launched the all new plug-in Reva I car model in India that is sold at Rs 3.10 lakh (ex-showroom, Pune). The electric car maker recently ventured with Mahindra & Mahindra, the auto giant’s finance company Mahindra Finance and came up with a unique plan of financial scheme for the new electric car. R Chandramouli, the Chief Operating Officer of MREVL, said on the launch that the company looks forward to sell 3, 600 units of the Reva-i. The figure is three times the current sale of 1, 200 units. If the company’s plan is to be based, it is expected that they will accomplish the sales target for about half of a year. He also added that the company expects to sell 3, 000 units in the national auto sector and 600 units in the global auto market which they are also targeting. The electric car company is holding business mainly in European markets like Spain, Norway, UK and France as well as in Asian countries like Bhutan, Nepal and Malaysia. But then the electric car company is developing an all new four-seater electric car model which will be for the domestic auto market. It is expected to be released in India by next year. With the governments of different countries are stressing on the new genre of vehicles, the plug-in cars or electric cars are seen to have a very good place in the global car market. The Mahindra-Reva is planning to expand in both national and international car markets by increasing its portfolio. As of present times, the company sells its car models through 10 dealerships in the country. The company envisions to increase this number to 100 or more thus stretching it in more than 60 cities by 2012. The company also aims to capture a big slice of the market this time due to the launching of a new manufacturing facility that was made fully functional by June. This facility is able to produce 30, 000 cars which is bigger compared to the present 1, 200 units every month. In May 2010, Mahindra took over 55 percent of the stake of the company thus the joint venture of Mahindra and Reva formed what is now known as MREVL.
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According to a report by Rushlane, Mahindra Reva had launched their all new electric car Reva I in five different cities in India earlier this year. The company is still set to officially launch the car in Gujarat as they are waiting for the Gujarat Government to provide some incentives to buyers. The Business Line of Reva-i is already available in the second hand car markets of Gujarat. According to Mr. S. Waghani, a dealer of the used car market from Navrangpura, Ahmedabad said, “The Reva-I runs around 70-80 kilometers for a single charge, and that is sufficient for intra-city travel. With fuel prices going up on regular intervals, people are increasingly getting interested in alternate fuel vehicles or even electric cars.” The report in Business Line also said that about 10-12 people inquire about the car model in the used car market every month. Mahindra launched Reva-i in Pune with a price tag of Rs 3.1 lakhs while it was launched in Bangalore and New Delhi which are sold at approximately Rs 2.75 lakhs approximately as the government gave 29.5% subsidy on electric vehicles. He also added that “The car runs on a battery which is replaced every three years and costs around Rs 50,000. Those used cars which have recently replaced their battery kits, are coming in for a high price, as the car is almost as good as new then. Others are slightly cheaper at around Rs 1.4 to 1.6 lakh. Moreover, as the car is not available yet in the Gujarat market, the used car market is enjoying a slight premium.” the first REVA electric car, REVAi is to be manufactured after .1 billion Mahindra&Mahindra took over and finally launched in Hyderabad. As of now, the electric car is already available at all Mahindra dealerships in Hyderabad. The very first proud owner of the first REVAi was Anurag Bajaj of Park Hotel in Hyderabad and he was very happy when the keys were finally handed over to him by Sabita Indira Reddy P. On the occasion, Mr. R Chandramouli, the Operations Chief of Mahindra REVA said “We are delighted to launch the REVAi in Hyderabad where there is already a great deal of interest in our vehicles. With issues such as climate change and carbon footprint taking centre stage globally, eco-friendly transportation has become the need of the hour. The electric vehicle market is hence, poised to grow rapidly. Mahindra’s extensive distribution network, coupled with our unique finance plan will help us make significant inroads into the local market.”
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In Bangalore, the Climate Solutions Road Tour team stopped to pick up all the vehicles and join Chetan Maini, the visionary young CEO of Reva Electric Cars, in a grand flag-off of the Climate Solutions Road Tour. Listen in to hear more about the solar electric car technology and see us drive off!
