Source :BLBureau:New Delhi, May 26,2010
General Motors (GM) India may not continue its tie-up with Reva Electric Car Company (RECC) with Mahindra & Mahindra taking a controlling stake in the latter company.
The US-based automaker has, however, said that it would not abandon its electric vehicle (EV) plans for India.
“We may not continue the Spark EV programme with Reva in the light of this development and will pursue our own electric vehicle programme. An announcement to this effect will be issued soon,” said Mr P. Balendran, Vice-President, Corporate Affairs, GM India.
GM had singed an agreement with Reva in September 2009 to develop EVs using Reva's electric power train technology and GM's car platforms. GM had earlier said that the first car under the venture — the electric Spark — would be launched by October 2010.
Mr Balendran had recently said that the electric Spark project with Reva is being delayed due to issues in battery sourcing, which is pushing up the costs.
Speaking to Business Line, Mr Chetan Maini, Deputy Chairman and Chief Technology Officer, RECC said, “We've just been informed by GM that they would like to pursue other options. We have had an excellent relationship with GM on this project. Reva had been working on a licensing agreement where the power train was our own, so we don't expect any legal issues to be involved.”
roudra.b@thehindu.co.in
No comments:
Post a Comment