REVA to ramp up capacity by five fold

New Delhi: Electric carmaker REVA Electric Car Company (RECC) said it will ramp up its production capacity by five fold this year on account of increased demand amidst rising petroleum prices.

The company currently has a capacity of 6,000 cars a year and is expanding its production to 30,000 units by the end of this year entailing an investment of up to 20 million dollar.

'We have just completed our test marketing period and now we are expanding our sales to Delhi. To meet the growing demand of REVA, we will be ramping our production capacities by five fold by the end of this year,' REVA Electric Car Company Deputy Chairman and CTO Chetan Kumar Maini said in New Delhi.

However, the company would start utilising the full capacity after three years, he added.

'We have already raised 20 million dollar for R&D and our expansions. The company so far has committed 50 million dollar in the country,' Maini said.

The company would introduce one new model and one new variant each year, he added.

When asked if the company would manufacture big car, Maini said: 'It will depend on different market conditions. Of course, new models and variants will be introduced.'

The company today launched its new range of products in Delhi, priced between Rs 2.99 lakh and Rs 3.78 lakh (on-road).

In an effort to make this pollution free car popular, the Delhi government has announced a host of incentives on battery operated vehicles, such as a 15 per cent subsidy on the base price of the vehicle, a 12.5 per cent exemption on VAT and refund of road tax and registration charges, totalling a 29.5 per cent incentives on all types of electric vehicles.