{"id":581157,"date":"2010-05-27T09:18:22","date_gmt":"2010-05-27T13:18:22","guid":{"rendered":"http:\/\/www.egmcartech.com\/?p=57663"},"modified":"2010-05-27T09:18:22","modified_gmt":"2010-05-27T13:18:22","slug":"mahindra-buys-55-stake-in-reva-gm-looking-at-other-options-for-spark-ev","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/581157","title":{"rendered":"Mahindra buys 55% stake in Reva, GM looking at other options for Spark EV"},"content":{"rendered":"
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Reva Electric City Car<\/p>\n<\/div>\n

In a move designed to expand technology in a time of rising demand for alternative fuel vehicles, India\u2019s Mahindra & Mahindra has agreed to buy a controlling stake in Reva Electric Car Co. Though Mahindra declined to give an overall value for the acquisition in a statement before the Bombay Stock Exchange on Wednesday, the company did announce that it will take over 55% of Reva; the stake is represented mostly by stock in the company.<\/p>\n

Last month, Mahindra took over French carmaker Renault\u2019s stake in a joint venture that produces the Logan sedan; a move that will help the company bring a passenger car to the Indian market.<\/p>\n

With distribution in 24 countries, Reva has sold more than 3,500 units to date, and plans to build a plant in southern India to build as many 30,000 vehicles per year.<\/p>\n

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\u201cThe EV market is poised to grow significantly, and we concluded that in order to seize the opportunity, we needed the resources and experience of a major automotive manufacturer,\u201d Chetan Maini, chief of technology and strategy at Reva, said in the statement.<\/p>\n

Mani said GM, which is developing a electric version of its Spark small car with Reva’s technology, is looking at \u201cother options” but the two have not ended their relationship.<\/p>\n

– By: Stephen Calogera<\/em><\/p>\n

Source: Automotive News<\/a> (Subscription Required)<\/p>\n

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Reva Electric City Car In a move designed to expand technology in a time of rising demand for alternative fuel vehicles, India\u2019s Mahindra & Mahindra has agreed to buy a controlling stake in Reva Electric Car Co. Though Mahindra declined to give an overall value for the acquisition in a statement before the Bombay Stock […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-581157","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/581157","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=581157"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/581157\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=581157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=581157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=581157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}