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Mahindra Buys Majority Stake in REVA
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.
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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