Eco-friendly, ‘green’ car to be available from 5 Mahindra Dealer outlets in the city
Mahindra REVA Electric Vehicles Pvt. Ltd. (Mahindra REVA), one of the pioneers of electric vehicle technology in India, today announced that its REVAi vehicle will be available at select Mahindra dealerships in Hyderabad.
This is the first major initiative announced by the company post its acquisition by the US $ 7.1 billion Mahindra Group in May 2010. The Honourable Sabita Indira Reddy P. from the Ministry of Home, Jails, Fire Services and Sainik Welfare, handed over the keys of the first two REVAi vehicles to Mr. Anurag Bajaj of the Park Hotel, Hyderabad.
“We are delighted to launch the REVAi in Hyderabad where there is already a great deal of interest in our vehicles. With issues such as climate change and carbon footprint taking centre stage globally, eco-friendly transportation has become the need of the hour. The electric vehicle market is hence, poised to grow rapidly. Mahindra’s extensive distribution network, coupled with our unique finance plan will help us make significant inroads into the local market,” said Mr. R. Chandramouli, Chief of Operations, Mahindra REVA.
The company has also tied-up with Mahindra finance which will enable them to offer customers a unique financing plan. REVAi buyers can now pay an interest free, refundable deposit of Rs. 1,00,000/-, followed by monthly instalments of Rs. 8999/- for a period of 36 months (3 years) and drive home a REVAi. At the end of 3 years, the customer can either continue using the car by making a final payment of Rs. 50,000/- or return the car and claim the refundable deposit of Rs. 1,00,000/-.
The REVAi is a technologically advanced car equipped with a 'boost’ mode for acceleration and power. It also has a ‘hill restraint’ feature which allows enhanced negotiation on slopes. As an eco-friendly and economical car, it offers ease of driving without clutch and gears. Its small size makes parking hassle-free and manoeuvrable for safe driving on city roads. Further, the vehicle can drive at 80 km per hour with acceleration from 0-40 km in 7 seconds.
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REVA’s patented technology incorporated in its Energy Management System (EMS) ensures optimum performance and life from the battery. The car also has a regenerative braking system by which energy is pumped to the battery while slowing down or applying the brakes. With a range of up to 80 km per charge, the REVAi is suitable for most journeys within the city. Its automatic drive, no emission and no noise make it the ‘perfect city car’.
About Mahindra REVA Electric Vehicles Pvt Ltd
Mahindra REVA is a pioneer of EV (electric vehicle) technologies and one of the first companies to introduce electric vehicles worldwide. Founded in 1994 as REVA Electric Car Company, a joint venture between the Maini Group of Bangalore and AEV LLC of USA, the company was acquired in May 2010 by the USD 7.1 billion Mahindra Group of India. The REVA electric vehicle was launched in Bangalore in 2001 and in London in 2004, (latter under the G-Wiz brand). In September 2009, at the Frankfurt Auto Show, the company unveiled two new cars, the 4 seat REVA NXR and the 2 seat REVA NXG.
Today Mahindra Reva has one of the largest deployed fleets of electric cars in the global market and has accumulated data from more than 100 million km of user experience. The company’s electric vehicle platforms, technologies and regional vehicle assembly are offered under license.
Mahindra Reva has 280 employees and is headquartered at the Bommasandra Industrial Area in Bangalore, India, next to Electronic City, one of the world's technology hubs.
In 2006 REVA was acclaimed by Businessworld India as one of India’s ‘Cool Companies’ and in 2008 was the recipient of the Frost & Sullivan Automotive Power train Company of the Year award. In 2010 Overdrive and CNBC TV 18 declared the REVAi as the Green Car of the Year.
About The Mahindra Group
Mahindra embarked on its journey in 1945 by assembling the Willys Jeep in India and is now a US $7.1 billion Indian multinational. It employs over 1,00,000 people across the globe and enjoys a leadership position in utility vehicles, tractors and information technology, with a significant and growing presence in financial services, tourism, infrastructure development, trade and logistics. The Mahindra Group today is an embodiment of global excellence and enjoys a strong corporate brand image.
Mahindra is the only Indian company among the top tractor brands in the world. It is today a full-range player with a presence in almost every segment of the automobile industry, from two-wheelers to CVs, UVs, SUVs and sedan. Mahindra recently acquired a majority stake in REVA Electric Car Co Ltd. (now called Mahindra REVA), strengthening its position in the Electric Vehicles domain.
The Mahindra Group expanded its IT portfolio when Tech Mahindra acquired the leading global business and information technology services company, Satyam Computer Services. The company is now known as Mahindra Satyam.
Mahindra is also one of the few Indian companies to receive an A+ GRI checked rating for its first Sustainability Report for the year 2007-08 and has also received the A+ GRI rating for the year 2008- 09.