Reva to roll out two new electric cars soon

The maker of India's sole battery-run car, Reva Electric Car Co., is setting up a second plant in the country's tech hub to roll out two new models next year for domestic and export markets, a top company official has said.

"We are investing Rs 300 million (Rs 30 crore) in the second plant that will eventually have an installed capacity of 30,000 units per annum," Reva co-founder and deputy chairman Chetan Kumar Maini told IANS.

The 14-year-old firm has raised $20 million (Rs 960 million) from global investors Draper Fisher Jurvetson and Global Environment Fund for this.

The company displayed prototypes of the two models at the 63rd Frankfurt International Motor Show Sep 15-27.

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