Business Ideas

Reva to launch two new cars by 2011

Upbeat on demand for electric cars, Bangalore-based Reva Electric Car Company will launch two new models globally by early 2011. The company today said its new plant at Bangalore would go on stream next year and achieve full capacity utilisation of 30,000 units within three years. "It will go on stream in 2010 and we expect to reach full capacity in three years," he said. Reva"s existing plant at Bangalore has an annual capacity of 6,000 units. On the company"s growth prospects, Maini said: "We are very bullish, with two new launches planned in next year and half and our new facility soon to go on-stream." Reva had sold 650 units in 2008, almost half of which was from the overseas markets. The company currently has two cars in the market -- Reva I and Reva LION. In the last eight years of its commercial operation, the company has sold over 3,000 units across the globe.

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