Mahindra REVA launches REVAi in Nagpur
Eco-friendly, ‘green’ car to be available at select Mahindra Dealer outlets in the city
Nagpur, April 8, 2011: Mahindra REVA Electric Vehicles Pvt. Ltd. (Mahindra REVA), one of the pioneers of electric vehicle technology in India, today announced that its REVAi vehicle will be available at select Mahindra dealerships in Nagpur. This is one of the major initiatives announced by the company post its acquisition by the US $ 11.1 billion Mahindra Group in May 2010.
“We are delighted to launch the REVAi in Nagpurr where there is already a great deal of interest in our vehicles. With issues such as climate change and carbon footprint taking centre stage globally, eco-friendly transportation has become the need of the hour. This is also substantiated by the recently announced incentives for electric vehicles, by the Government, in the form of MNRE subsidy of Rs One Lac OR 20% of the ex factory price of the car. The electric vehicle market is hence, poised to grow rapidly. Mahindra’s extensive distribution network, coupled with our unique finance plan will help us make significant inroads into the local market,” said Mr. Pavan Sachdeva, General Manager – Sales & Marketing, Mahindra REVA.
The company has also tied-up with Mahindra finance which will enable them to offer customers a unique financing plan. REVAi buyers can now pay an interest free, refundable deposit of Rs. 1,00,000/-, followed by monthly instalments of Rs. 8283 /- for a period of 36 months (3 years) and drive home a REVAi. At the end of 3 years, the customer can either continue using the car by surrendering the deposit or return the car and claim the refundable deposit of Rs. 1,00,000/-.
The REVAi is a technologically advanced car equipped with a `boost’ mode for acceleration and power. It also has a ‘hill restraint’ feature which allows enhanced negotiation on slopes. As an eco-friendly and economical car, it offers ease of driving without clutch and gears. Its small size makes parking hassle-free and manoeuvrable for safe driving on city roads. Further, the vehicle can drive at 80 km per hour with acceleration from 0-40 km in 7 seconds.
REVA’s patented technology incorporated in its Energy Management System (EMS) ensures optimum performance and life from the battery. The car also has a regenerative braking system by which energy is pumped to the battery while slowing down or applying the brakes. With a range of up to 80 km per charge, the REVAi is suitable for most journeys within the city. Its automatic drive, no emission and no noise make it the ‘perfect city car’.
About Mahindra REVA Electric Vehicles Pvt Ltd
Mahindra REVA is a pioneer of EV (electric vehicle) technologies and one of the first companies to introduce electric vehicles worldwide. Founded in 1994 as REVA Electric Car Company, a joint venture between the Maini Group of Bangalore and AEV LLC of USA, the company was acquired in May 2010 by the USD 11.1 billion Mahindra Group of India. The REVA electric vehicle was launched in Bangalore in 2001 and in London in 2004, (latter under the G-Wiz brand). In September 2009, at the Frankfurt Auto Show, the company unveiled two new cars, the 4 seat REVA NXR and the 2 seat REVA NXG.
Today Mahindra Reva has one of the largest deployed fleets of electric cars in the global market and has accumulated data from more than 100 million km of user experience. The company’s electric vehicle platforms, technologies and regional vehicle assembly are offered under license.
Mahindra Reva has 280 employees and is headquartered at the Bommasandra Industrial Area in Bangalore, India, next to Electronic City, one of the world's technology hubs.
In 2006 REVA was acclaimed by Businessworld India as one of India’s ‘Cool Companies’ and in 2008 was the recipient of the Frost & Sullivan Automotive Power train Company of the Year award. In 2010 Overdrive and CNBC TV 18 declared the REVAi as the Green Car of the Year.
About The Mahindra Group
The Mahindra Group focuses on enabling people to rise. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology and vacation ownership. Mahindra has a presence in the automotive industry, agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel and two wheelers.
A US $11.1 billion multinational group based in Mumbai, India, Mahindra employs more than 117,000 people in over 100 countries.
Dun & Bradstreet, the world’s leading source of global business information, knowledge and insight, recently ranked Mahindra at No. 1 in the automobile sector in its list of India’s Top 500 Companies. In 2010, Mahindra was featured in the Forbes Asian Fab 50 list and the Credit Suisse Great Brands of Tomorrow.
Its flagship company Mahindra & Mahindra Limited has also earned the distinction of being the only Indian automobile manufacturer to feature in the top 10 list of the Carbon Disclosure Leadership Index in India - 2010, created by the Carbon Disclosure Project (CDP).
In 2011, Mahindra acquired a majority stake in Korea’s SsangYong Motor Company.
For more information, please visit www.mahindra.com.
For further information, please contact:
Ms. Roma Balwani
Senior Vice President & Group Head, Corporate Communications
Mahindra & Mahindra Ltd
Phone: (+91-22) 2490 1441
Fax: (+91-22) 2490 0830