Financial Daily from THE HINDU group of publications
Friday, Oct 11, 2002
Alliances & Joint Ventures
Reva ties up with UK co for Europe foray
BANGALORE, Oct. 10
THE Bangalore-based Reva Electric Car Company has tied up with Going Green Ltd, a UK-based organisation that markets environment-friendly products and services. Initially, Going Green will promote the electric car in the UK, and thereafter in other parts of Europe.
Announcing this, Mr Chetan Maini, Managing Director, RECC, said, "Going Green plans to become the biggest retailer of electric vehicles in the world in the next five years and we hope to help them get there.''
He also said this tie-up would mean a foray into one of the most mature markets in the world (Europe) and it showed that there was a growing concern for environment and congestion.
According to Mr Maini, the RECC plant expansion was under way, at the completion of which the plant would be able to produce 6,000 cars per annum.
Meanwhile, the company has started dealerships in Delhi, Chennai, Goa, Surat and Jodhpur and will open 12 more by March 2003.
Currently 275 Revas are running on the road.
Mr Stephen Cain, Co-founder, Going Green Ltd, said his company hoped to capture at least one per cent of the new car market with the import of Reva.
He talked of the advantages that Reva would bring with it.
"In London, the government is planning to levy a congestion fee of five pounds per day for pollution vehicles and electric cars are exempt from this.''
Initially, Going Green will market the car in Leeds and later in London and other parts of the country, followed by other European cities, he announced.
Stories in this Section
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |
Copyright © 2002, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line