To launch Maxximo electric trucks by yr-end: Anand Mahindra

Mahindra and Mahindra (M&M) has bought a majority stake in electric car company, Reva. The commercial vehicle major would now hold 55.2% in Reva via the stake sale and fresh equity infusion. M&M would invest USD 10 million in the electric car major and would rename thecompany as Mahindra Reva Electric.
A day after sealing the deal with Reva, Anand Mahindra, VC & MD, M&M explained his strategy to CNBC-TV18 of entering the electric car segment.


Q: What would this move mean for the Indian consumer?
A: I would say one has to view this acquisition as an acquisition of a competence, of a capability. Don’t focus on are we going into small cars and what’s in it right away for the consumer. Mahindra andMahindra as an automaker with global aspirations has to have the competence for alternate fuel technology. As you know yourself, you have been following the company for a long time, we have been putting our tentacles out in each possible area of technology.
As you know every year at the Auto Expo we showcase what progress we have made, whether they are on even the hydrogen combustion, three wheeler for example or biofuels which we have been following for a long time. I think our operating management led by Pawan felt very clearly that the investment in Reva would put us ahead of our planned trajectory and that’s why the acquisition made sense.
So you have to put yourself in our shoes and realise that a company of our aspirations must have the ability to play in the field of electric vehicles and that is essentially what we have acquired.


read the news article @ http://www.evhub.in/news/26

M&M’s green move

If the future of vehicular motion is total electrification, the acquisition of electric carmaker Reva by utility vehicles major Mahindra & Mahindra (M&M) makes strategic sense. The move would also boost synergy, with M&M benefiting from Reva’s technology for electric variants of its three-wheeler and minitruck.
Reva, in turn, stands to gain from M&M’s marketing presence and strong dealer network. Opinion has it that sales of electric cars would touch 1.5-2 million globally within a decade. But others more sanguine say the percentage of electric cars could reach 25% in that period, driven by sustained technological improvements.
Now, Reva cars are green, environment-friendly and zero-emission vehicles, but the numbers on the road add up to only about 3,500 in 24 countries. The limited battery capacity, need for repeated charging and its modest seating space have all been a drag on Reva sales. But note that 45% of the energy released by electric-car batteries is spent on propulsion — it points at an efficiency level that is already between 10% and 30% higher that those in conventional internal-combustion engines.

read news article @ http://www.evhub.in/news/27