Bangalore-based Reva has formed a joint venture with Bannon Automotive from New York.
Bangalore-based electric car maker, Reva Electric Car Company may become India’s first auto company to make its vehicles in the US, by asembling its next generation NXR smart car in New York.
Reva has roped in a New York-based electric car maker Bannon Automotive, in a joint venture to assemble its three-door plug-in hatchback, banking on emerging demand for environment-friendly cars.
The proposed JV is expected to see an investment of over $38 million with $11.6 million funding coming from the local New York State as incentives for the eco-friendly project. It likely to set up America’s first assembly plant for electric cars.
The new car will run on a Lithium-ion battery, with a top speed of 104 kmph and a range of 160 kms on a full charge.
Reva has scaled up its manufacturing capacity in India to 30,000 cars per year with an investment of Rs 30 crore.
