India’s Mahindra Reva Electric Vehicles aims to sell 30,000 cars by 2015, encouraged by government policy support for the industry, the company CEO announced.
At the Auto Expo in New Delhi Chetan Maini said that production of the company’s new Reva NXR will begin in the second half of 2012, with exports to European countries to kick off next year. Boosted by the Indian federal government’s national mission plan for hybrid and electric vehicles, the number of electric vehicles on Indian roads should reach 7 million by 2020, according to a study by the Society of Indian Automobile Manufacturers (SIAM).
“The policy will definitely help us. We have seen that happening in several other countries,” Maini was quoted as saying by LiveMint.com, citing the examples of China, the US and Norway. He added that in China, sales of electric two-wheelers have increased to 20 million units, driven by a favourable policy.
Reva Electric Car Company was acquired by Mahindra & Mahindra in May 2010. Mahindra Reva CEO said the purchase has helped Reva not only in accessing M&M’s distribution network, but also its manufacturing capabilities and frugal engineering. Mahindra Reva is currently working on developing an electric version of the Verito sedan (the Logan).