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      Mahindra Reva to Foray into Chinese Market

      Payal Pathak

      Payal Pathak

      Indian automaker Mahindra and Mahindra is aggressively expanding overseas. It recently acquired Korean SUV auto giant Ssangyong and is now planning to export its electric cars to China. M&M has also acquired Reva Electric Cars to manufacture electric vehicles for the global markets. "China is one of the largest auto markets and given the huge demand for eco-friendly vehicles it could generate in future, we would like to take our new cars into that market," said Pawan Goenka, Chairman, Mahindra Reva Electric.

      There is growing demand for electric vehicles in China well supported by required infrastructure as well as government-backed subsidy programs to sell EVs in the country. Analysts have predicted that a total 5 million electric cars will be sold in China alone by the year 2020 which makes China an attractive market for EV manufacturers. Mr Chetan Maini, the brain behind Reva said, “The recent change in technologies would help us to cater to the wider need of global markets.”

      Mahindra acquired a controlling stake in Reva in May 2010. Bangalore-based Reva was set up as a joint venture between Indian company Maini Group and California-based AEV LLC in 1994. At present, Reva exports its cars to markets such as the UK and Norway.