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Mahindra acquires majority stake in REVA Electric car company
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#1
[Image: AVN_REVA_118893f.jpg]

Quote:Mahindra & Mahindra Ltd., on Wednesday, announced the acquisition of a majority stake in Bangalore-based REVA Electric Car Co Ltd. Following this, REVA Electric Car Co Ltd. will be renamed Mahindra REVA Electric Vehicle Co Ltd.

Under an agreement signed by both the companies, M&M will own 55.2 per cent equity in the renamed Mahindra REVA by a combination of equity purchase from the promoters and a fresh equity infusion of over Rs 45 crore (approximately $10 million) into the company. The buy-out makes the Mahindra group a strong global player in the electric vehicle space, says a release.

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#2
Good move by Mahindra , we can expect electric cars from Mahindra soon .
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#3
That too expecting with reduced prices Smile
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