India's Reva Electric Car Company, the only producer of electric cars India has announced receiving investments worth USD 20 million from Draper Fisher Jurveston and Global Environment Fund.
This investment will help the company expand and consolidate its position in world’s electric car market. They will use this money to expand business by increasing production capacity, developing newer models and further enhancing its international and domestic distribution. The company can produce 6,000 units a year and is planing to expand its capacity to 50,000 cars a year.
Reva car is currently available on sale in India and is also marketed in UK, Italy, Malta, Sri Lanka, Cyprus and Greece. It is also being test marketed in other nations including Norway, Spain, Japan, the USA, Ireland, Australia and other European countries.
REVA, a two door hatchback, seating two adults and two children, is designed to be a city car. It has an onboard charger, requiring 7 hours to fully charge its 8 tubular type lead acid batteries located under the front seat and 2.5 hours for an 80% charge. The full charge has a range of 80 km (48 miles) and the 80 % charge has a range of 65 km (39 miles). Top speed is 65 km/hr (39 mph). All models are equipped with a 13 kw (peak) motor. Regenerative braking extends the range.
See previous post for more details.
REVA Electric Car Co., Bangalore India, company website