Reva to launch electric car in Japan, US

Bangalore-based Reva Electric Car Company (RECC) is planning to launch its car in Japan and the US later this year. The company is test-marketing the car in these two countries.

Chetan Maini, deputy chairman and CTO, RECC said, "We are presently test-marketing our car in Japan and the US. Typically, it takes about six months to complete the test marketing. We have pressed 30 cars into Japan for various tests and will take a call on the exact timing of the launch in these markets by December this year."

Talking to reporters after launching the company's latest model, Reva-i, here today, he said the company has been certified by the Japan Automotive Research Institute and Reva customers there will get subsidy equivalent to $2,600 from the government of Japan per eco-friendly car bought.

The company has appointed a distributor in Japan for test marketing.

For the US market, the company has taken special permit from the government to test the car by selected customers and distributors.

"After a favourable feedback from them we will approach the government for necessary clearances to sell the car," Maini said, adding that, "There is a huge potential for small electric cars like the Reva in the US and we hope to launch it within this year," he said.

The company raised $21 million as venture capital from Draper Fisher last December, which is being used to expand its manufacturing capacity from 6,000 units per annum to 30,000 per annum at Bangalore, Maini said.

The company plans to sell 3,000 cars during the present fiscal, 60 per cent of them will be exported. Till now, RECC has sold 2,000 electric cars, including 1,000 units being exported to the UK. It sold 600 cars in 2006-07. This year, it plans to launch the car in Germany, Switzerland and Austria.

Reva-i, the new model launched today, is priced at Rs 3.49 lakh in Bangalore (ex-showroom).