The Reva brand was founded by Chetan Maini more than two decades ago and has been the CEO of this popular electric car company in India. The 43 year old has called it quits and is likely to move out from the company sometime by the end of April this year. His position shall be taken over by Arvind Mathew who has been formerly associated with Ford as a former managing director.
Speaking more on the occasion, Maini said, “The business has reached a level where it can move on its own to a higher level. I have been associated with the company for 20 long years, during which time I learnt so much from it. I will figure out what I want to do next.” Maini further added, “Today, we have the manufacturing plant, we have three-four new products ready and the company is set on a definite course of growth. I have achieved the dream of making Reva what it is today. Though I will no longer be managing the company, I will remain invested as a shareholder. I will still pursue ambitions in the electric vehicle space, but no definite target areas identified yet.”
Though Maini has decided to step down, he reportedly shall continue to hold stakes in the company. Post the Mahindra and Mahindra take over, Maini's stakes in the company have been dipping at a steady rate. Currently he holds about 3.57% in the company as against 5.5% noted at the time of takeover.
