Mahindra Reva among world's top 50 innovative companies

The company is gearing up to launch its new next-generation electric car E2O in March

Mahindra Reva Electric Vehicles Private Limited, a subsidiary of Mahindra Group, has received global recognition for its innovation in electric car space ahead of the launch of its much-awaited next-gen electric car, Mahindra E2O.

Mahindra Reva has been featured in “The World’s 50 most innovative companies for 2013” ranking by international business magazine Fast Company. Mahindra Reva has been ranked at joint 22nd position with Tesla.

“Mahindra Reva is the only Indian company to be featured in the list for this year. This is one of the most respected and prestigious recognition globally and we are proud to have this recognition. This recognition is not only for Mahindra Reva, but for the whole country, which is getting recognition for its world class products and solutions,” Chetan Maini, chief of technology and strategy, Mahindra Reva said.

The list includes Nike at top position, Google at 11th rank, Apple at 13th rank and Samsung at 17th rank. The Fast Company ranking is an annual guide to the state of innovation featuring the businesses whose innovations are having the greatest impacts across their industries.

Mahindra Reva has been awarded for catering Electric cars to new audiences and its innovative contribution for the global electric vehicle industry.

Maini said the company has commenced commercial production of its new car, Mahindra E2O and it will be launched sometime in March this year. “We are looking forward to a new subsidy policy for electric vehicles in the forthcoming Budget for 2013-14. We will finalise the launch date after the Budget announcement,” he said.

Alan Webber and Bill Taylor, two former Harvard Business Review editors founded the Fast Company magazine in November 1995 to chronicle how changing companies create and compete and highlight new business practices.