Reva setting up second plant in Bangalore

New Delhi: Reva Electric Car Company said it will launch its products in 10 new overseas markets, including France and Brazil, by the end of the year as it aims to sell about 4,000 vehicles per year by 2010.

The company is currently setting up its second plant in Bangalore, which would have an installed capacity of 30,000 units per year, besides planning to roll out a new version of its Reva car with lithium ion battery in May.

'Common people have become aware and are interested in having eco-friendly vehicles. We are targeting to sell a total of 4,000 cars each year by 2010,' Reva's Deputy Chairman and Chief Technical Officer Chetan Kumaar Maini told reporters here at the conclusion of Electric Car Rally.

The company sold about 500 cars last year and is aiming to sell 1,000 units, including exports, in 2009, he added.

Maini said the company is currently test marketing in 10 overseas nations, including France, Philippines, Chile, Brazil and Colombia.

'By the end of this year, we will be launching our car in all the 10 new markets,' he added. The company currently exports its vehicle to the UK, Spain, Belgium and other European countries.