Mahindra Reva Electric Vehicles Private Ltd (MREVPL) announced on Wednesday that it is aiming to sell as many as 2,500 units of its electric cars in the country next year. In the current fiscal, it targets to cross the sales figure of 1200 units in the country, as per a statement given by company’s General Manager (Marketing) Pawan Sachdeva to the reporters.
The company will commence commercial production of Reva at its newly established Bangalore Plant by April 2011. The new plant will take the total annual production capacity of the company to more than 30,000 units from existing capacity of 14,000 to 18,000 per year.
At present, MREVPL is the only electric car maker in the Indian market. The company also exports its electric cars to the European countries like UK, Norway, Spain and France. Mahindra-Reva is currently working on the development of a new four seater model of its electric cars and plans to launch it in the country by year 2012.
Earlier, the government of National Capital has offered a subsidy of 29.5 per cent on this car in order to promote the sale of electric cars in the city. In the similar measures, the Rajasthan government had also offered the waiver of road tax and VAT on the electric cars of Reva. The company hopes to get the similar tax incentives from the Kerala government for its electric cars.
The MREVPL came into existence after country’s largest utility vehicle maker Mahindra & Mahindra acquired a majority stake of over 55 percent in the Bangalore based electric car company Reva, in May 2010. While the Reva’s promoter Maini family holds a 31 percent stake in this new company, the co-founder Lon Bell holds 11% stake in it.
