Mahindra, Reva announce partnership leading future electric vehicles

Filed under: Hirings/Firings/Layoffs, Earnings/Financials, India, Electric

Turns out, that so-called “person with direct knowledge” was right. Mahindra and Reva have announced a collaboration to form a new company called Mahindra Reva Electric Vehicle Company that will see Reva’s electric powertrain technology put into Mahindra & Mahindra vehicles. Mahindra will also take a 55.2-percent equity stake in Reva Electric Car Company and has so far invested about $10 million in the new company. New corporate details are available after the jump, but what we′re really wondering is what this might mean for vehicles like the NXR electric car.

Apparently, a lot of Mahindra vehicles – electric three-wheelers like the Bijlee and the Maxximo mini-truck, and “other M&ampM vehicles” – could get the electric powertrain package. As for the NXR (and the even more far away NXG), today’s announcement says, “Mahindra REVA will now have access to Mahindra′s vehicle development technology and distribution network, significantly enhancing its ability to launch a state-of-the-art electric vehicle for global markets.” So, there’s that.

At this point, we′re not sure what this announcement means for the previous deal between Reva and General Motors.

[Source: Mahindra]

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Mahindra, Reva announce partnership leading future electric vehicles originally appeared on Autoblog on Wed, 26 May 2010 17:33:00 EST. Please see our terms for use of feeds.

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