A Memorandum of Understanding (MoU) has been signed between Mahindra Reva Electric Vehicles Pvt. Ltd. and Government of Victoria, Australia on 23 February 2012. To explore the possibility for supply chain development, research and production of clean technology vehicles, a feasibility study is conducted by the Government of Victoria.
For the development of energy management technologies and advanced vehicle, three MoUs has been signed by the company with renowned Australian research centers namely LaTrobe University, Swinburne University, and AutoCRC, which is the national automotive research body of Australia.
Mr. Chetan Maini, Founder and Chief of Strategy & Technology, Mahindra Reva Electric Vehicles, said, "We firmly believe that electric vehicles are the future of personal mobility, and our partnerships with the Government of Victoria and Victorian research institutions will help create the next generation of zero-emissions mobility solutions for the world."
In the occasion, the Premier of the State of Victoria, Mr. Ted Baillieu was present for signing the MoU. Addressing the ceremony, he said "The Victorian Government is committed towards maintaining a strong, dynamic automotive industry in Victoria, and welcomes this interest from one of the world's most exciting and innovative electric vehicle manufacturers."
In order to set up an operational structure for an Applied Research Program, the electric car maker signed the MoU with the AutoCRC. As per the two-year MoU, both parties under the Applied Research Program will be able to form specific project agreements. Further, relevant confidential information will also be shared by both parties as per this memorandum. The MoU signed with Swinburne University will aim at the development of advanced EV technologies. This Australian university has the largest electric vehicle research group.
To make collaborative R&D possible for new energy management technologies, three year MoU has been signed by Mahindra Reva with LaTrobe University. Innovative techniques and concepts will be developed under the research program, allowing the company to create efficient electric vehicles, building design and vehicle-to-grid technologies.
For commercial buildings, energy management systems would be introduced, which will motivate the employees to use electric vehicles. By this process, solar or wind power energy sources will be stabilised or the medium of energy for the facility would be created.
Mahindra Reva is a subsidiary of the renowned Mahindra Group, which has set up its new facility in Bengaluru. This energy-efficient automotive unit is largest in the world which features solar power and energy recovery systems. The new technologies, which are developed by the joint research program, will be tested in the plant. Mahindra Reva holds pride to be the pioneer in the field of electric vehicle technology.
Reva Electric Car Company was established in 1994 as a result of a joint venture between AEV LLC of USA and Maini Group of Bangalore. By the use of advanced technology, the company took initiative of creating electric cars. In 2001, the company’s first model was launched in India, and after three years, it was launched in London.
RECC was renamed as Mahindra Reva Electric Vehicles Pvt. Ltd. when it was acquired by Mahindra Group, the US $14.4 billion company in May 2010. The headquarters of Mahindra Reva is situated in Bengaluru, which is the IT hub of India. At present, the company holds pride to be the largest supplier of electric cars.
Across 24 countries, Reva car owners have driven their vehicles for over 180 million kilometres petrol free. Apart from manufacturing its own cars, the company also electrifies existing platforms and provides its electric vehicle technologies license to other car makers. Zero-emissions mobility solutions are also provided by Reva.
30,000 cars can be produced per year in the Bengaluru facility of the company and the manufacturing process is scheduled to begin in the mid-2012. Business World India acclaimed Reva as one of India's "Cool Companies" in the year 2006. The car was conferred with Frost & Sullivan Automotive Powertrain Company of the Year award in 2006. At Overdrive & CNBC TV18 awards, Reva i was crowned Green Car of the Year in 2010.
Mahindra Group, which is the owner of RECC holds a controlling stake in Victorian-based aerospace companies, Aerostaff Australia and Gippsland Aeronautics (GippsAero). This famous group has several industries under its belt that boosts up the economic growth of the country. The company leads in field of information technology, utility vehicles and vacation ownership. It is also one of the largest tractor manufacturers of India.
This group has made its presence in services, defence, energy, financial services, automotive industry, agribusiness, consulting, industrial equipment, aerospace, components, retail, steel, logistics, real estate and two wheelers. Across 100 countries, the group provides employment to more than 144,000 people. In the Credit Suisse Great Brands of Tomorrow, Mahindra was featured in 2010.
The company is also proud to be in the Forbes Global 2000 list in 2011. Biggest and Most powerful companies of the world are listed under this program. Dun & Bradstreet in its list of India's Top 500 Companies also ranked Mahindra as No. 1 in the automobile sector. The year 2011 was crucial as Korea's SsangYong Motor Company’s majority stake was acquired by Mahindra Group.
