Reva-i Set For Sale In India For Rs 3.10 Lakh

Mahindra Reva Electric Vehicles Ltd

Mahindra Reva Electric Vehicles Ltd. (MREVL), Indias 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 giants 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 companys 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.

by: cardekho

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