Mahindra Buys Majority Stake in REVA

REVA-Mahindra

In brief: Mahindra & Mahindra has purchased a majority share of REVA Electric Car Co and will rename the company to Mahindra REVA Electric Vehicle Co Ltd.

The word

Mahindra-Reva

One of the world's largest electric car makers, REVA builds the popular G-Wiz sold in the UK and several other vehicles as well as electrification components and technologies.

Mahindra now owns a 55.2% share of REVA. Mahindra has been working for a decade on green technologies including diesel hybrid and hydrogen vehicles. Subsidiaries of the company make electric 3-wheeled and 2-wheeled vehicles as well.

The acquisition promises a stronger core technology group to build future automobiles.

And so ...

Interesting news and definitely a big shakeup in the Asian and European electrification markets.

Photo credits: Mahindra

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