Members of the Indian Youth Climate Network drive Reva, a low-cost electric car, in New Delhi
At a time when almost every carmaker in the world is looking at making environmentally friendly vehicles, a little-known Indian company is jumping the queue by ramping up production of a low-cost electric car called the Reva.
Reva faces a growing list of potential competitors that plan to launch
all-electric and plug-in hybrid vehicles over the next several years.
The cars haven't exactly taken the world by storm. Reva — which has received
venture capital from Draper Fisher Jurveston, the Global Environment Fund and
Mellon HBV Master Global Event Drive Fund — has sold only 3,000 cars over the
past eight years. Half of those have been exported to Europe, mainly to London.
Despite Reva's relatively low cost, consumers may not be convinced, especially
in India, that the car can compete against similarly priced gasoline-powered
family sedans. "Reva is yet to hit the price-performance equation
No comments:
Post a Comment