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India's Reva Electric Car Co looks to Israeli market
India's Reva Electric Car Co looks to Israeli market

Reva plans to offer an option to buy the car and expensive battery separately.

Dubi Ben-Gedalyahu24 Sep 09 10:11

Sources inform ''Globes'' that India's Reva Electric Car Company pvt. Ltd. has been in talks with Israeli car importers. Reva had signed a contract with an importer, but it was subsequently cancelled.

Bangalore-based Reva is a joint venture between India's Maini Group and California-based AEV LLC, and is backed by US equity funds Global Environment Fund and Draper Fisher Jurvetson. Reva has been selling electric cars in India for several years, and plans to begin production and marketing in Europe in 2010.

At the Frankfurt Motor Show, Reva unveiled its latest models, the target prices for them, and its business plan. The city Reva NXR has a lithium-ion battery, and can attain top speed of 104 kph and cover a distance of up to 160 kilometers in a single charge. Using the 90 minute fast charge, the Reva NXR can have an effective range of 320 kilometers a day. It is priced at €15,000, including the battery.

The Reva NXG is a two-door, two-seater coupe with a range of 200 kilometers per charge and a top speed of 130 kph, while use of the fast charge will give an effective range of 400 kilometers a day.

Reva plans to offer an option to buy the car and expensive battery separately, the same model that Better Place is proposing.

Published by Globes [online], Israel business news - Globes [online] - Israel business news - Home Page - on September 24, 2009

© Copyright of Globes Publisher Itonut (1983) Ltd. 2009

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