According to executives familiar with the talks, General Motors India, the wholly-owned subsidiary of General Motors Company, is in advanced talks with Bangalore-based Reva Electric Car Company for a possible collaboration and a joint venture.
According to The Economic Times, GM India is looking to Reva for EV technology to incorporate an electric-version of the upcoming Chevrolet Spark in India and select overseas markets.
“We have been pursuing opportunities for commercial application of alternative fuel options, including bio-diesel, jatropha arrangement with CSMCRI (Central Salt and Marine Chemicals Research Institute), electric, fuel cell, hydrogen etc, with many parties for quite some time,” said GM India”s vice-president of corporate affairs, P Balendran. “Our efforts are ongoing and we have nothing to announce as of now. As soon as we finalise our plans for introduction of any alternative fuel solutions, we will announce the same,” he said.
If GM’s Detroit headquarter gives the thumbs up, Reva and GM will enter into a 50/50 joint venture. It will be the first deal since the automaker filed for Chapter 11.
2010 Chevrolet Spark:
– By: Kap Shah
Source: The Economic Times