- Indian automaker Mahindra & Mahindra has acquired a 55 percent stake in Bangalore-based Reva Electric Car Company.
- Reva had been partnered with GM to help develop a battery-powered version of the subcompact Chevrolet Spark for India and other Asian markets.
- GM has now pulled out of the deal with Reva.
BANGALORE, India — Indian automaker Mahindra & Mahindra has acquired a 55 percent stake in Bangalore-based Reva Electric Car Company, which had been partnered with General Motors to help develop a battery-powered version of the subcompact Chevrolet Spark for India and other Asian markets. GM has responded by pulling out of the deal.
The Times of India reported Thursday morning that General Motors is no longer pursuing the arrangement with Reva in light of the M&M acquisition, quoting Karl Slym, head of GM's India unit, as saying, "The plans with Reva are over." Numerous media reports said that GM intends to use Detroit-developed technology in India instead and adding that GM is considering selling the Volt in India when the new EV comes out this fall.
Mahindra is primarily a maker of utility vehicles and pickups. It plans to begin selling a diesel-powered version of its Scorpio pickup in the U.S. later this year. The company also has shown a diesel-hybrid prototype of the Scorpio, but has not announced specific production plans for such a hybrid.
After the change of ownership, Reva will be renamed Mahindra Reva Electric Vehicle Company. Mahindra plans to adapt some of Reva's EV technology to Mahindra vehicles, including the Maxximo minitruck.
Anand Mahindra, managing director of Mahindra & Mahindra, said, "With issues such as climate change and carbon footprint taking center stage globally, eco-friendly transportation becomes the need of the hour. Mahindra already has an established sustainable-mobility solutions program and our association with Reva will only help us further expand our green footprint both in India and overseas."
Inside Line says: Mahindra recently ended a joint venture with French automaker Renault to sell the Logan sedan in India. — Paul Lienert, Correspondent
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tdiluv says:
01:47 PM, 06/01/2010
My best friend has been on a waiting list to drive the MAHINDRA pick-up but it's just not coming! He said if this keeps up he will buy the VW diesel pick-up instead. OOPS, thats not coming here either!!
k55 says:
11:30 AM, 05/30/2010
That Reva is pretty cool looking ( especially for something ou of India). If sold with a more mainstream 1000 or 12oo cc DOHC engine and 6 spd dsg type trans it would be a cheap Mini Cooper. I say bring in more "Kei" car type vehicles with emgines of arounf 660 to 1200 cc size...10-15k.
hal9000 says:
09:35 PM, 05/29/2010
Oooh Mahindra in the Edmunds news? 'Click'.....maybe Mahindras are finally coming.........later this year...wait..Mahindras have been coming to the US for the past two,three,four....ahhh who cares anymore.
starliner54 says:
01:17 PM, 05/28/2010
Mahindra recently restructured a JV with Renault. They will continue to build the Logan, and will take more control over marketing, styling, and model selection, eventually renaming the vehicle. Cooperation with Renault continues.