Bangalore-based electric car manufacturer Reva Electric Car Company launched REVAi, a two-seater hatchback which is a revised version of the two-seater it has sold in India and other markets for some years.
Reva will also increase output capacity at its plant from 6,000upa to 30,000upa by the end of 2008.
Mr. Chetan MAini, deputy chairman and chief technology officer said that they have already raised US$20m for R&D and expansions. The company so far has committed US$50m in India.
Reva also plans to launch one new model and one new variant every year and if demand persists they would also launch a bigger car.
Revai has a top speed of 85km/h and improved torque. The car is claimed to have a range of 80km per charge with the air-conditioner on, and 129km without the a/c. The car also features regenerative braking and automatic hill restraint.
The company says it has sold some 2,500 cars in 13 countries.
Reva is exempt from a 15% subsidy on the base price and a 12.5% value added tax (VAT) in Delhiand will refund the road tax and the car’s registration charges. In the capital, the car will cost Rs299,000 (base price).
Mr. Girish Rakhe, President of India’s operations said that they would be very happy if they sell 3,000 cars in the national capital in the first year.
