Mahindra Reva Electric Vehicles Private Limited or formerly Reva Electric Car Company is the electric vehicle producing unit of Mahindra located in Bangalore. The company has put INR 150 crores into the investment to produce compact electric automobiles. Even the company also plans to upgrade all its existing models with the EV technology to increase its business.
The company is imparting this new technology to three vehicles Genio, Verito and Maxximo, out of which Verito is a passenger car while the others fall in the commercial vehicle category. Following the business done by REVAi (in 26 countries), the company is hopeful for a good business. Also, it also gets aid from the govt. for developing such environment-friendly cars. The above models are already out for testing sessions and are expected to enter the market by the end of this year.
The growing oil price, environment concerns, emerging technologies, customer demands and hybridization of several technologies have a combined effect on mobility issues. With various advantages, the company was able to join the Top 50 most innovative global industries in 2013. The company also aims to use EV technology to manufacture hybrid vehicles which may come next year. The business relationship with Ssangyong has helped the company to achieve this success.
With the increasing climatic concern and global warming, Mahindra has come forward to bring out the new environment-friendly vehicles. This has not only solved the oil issues but also helped the company do a good business to improve its market status.