Reva to enter in next stage of developement

Reva, a leading Indian electric-car maker, is now eyeing at an international investor apparently, so that it can take its operations to the next stage of R&D and manufacturing. According to some media reports, REVA, which already has investments of around US$ 10 million (from Global Environment Fund (GEF) and Draper Fisher Jurvetson (DFJ) giving it a 47 per cent stake), could be well worth over US$ 100 million now.

Few months back, there were rumors in the market that Mahindra & Mahindra, the largest SUV maker in India, is showing interest in buying a stake in the electric car maker, though there was no confirmation from either of the companies. It is likely that if Reva seeks a global presence in other world markets than an international investor would be more appropriate as a strategic decision.

Moreover, in the end of last year, GM India and Reva had entered into a partnership to develop an economical electric car for the Indian market and since than both companies have been doing feasibility studies that would use GM small car platforms to host co-developed drive-trains and control systems. At present, Reva i is the only recognized electric car in the India, in the company's portfolio.

Source:- Reva to enter in next stage of developement - New Cars