Electric Cars Facts

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Family-owned Reva Electric Car company has finished designing and developing a new factory near Bangalore to mass produce the Reva, its two-passenger city hatchback. Priced just over $12,000, the Reva has been doing quite well in sales in India and Europe since its first induction into the market back in 2001. Reva’s factory has now become the world’s largest low-cost EV factory. Annual capacity is expected to be 30,000 cars by 2012.

But the Reva is sure to face some stiff competition from other economically friendly EVs. A growing list of electric car companies are planning to launch waves of all-electric and plug-in hybrid vehicles over the next several years. General Motor’s Chevy Volt was introduced last year. BMW recently began test-marketing its latest EV in Britain and other Western countries this summer. Renault-Nissan plans to release its own electric car by 2012. In fact, by 2020, a Frost and Sullivan study projects that 15% of all cars sold around the world will be electric.

The Indian company plans to leverage low production costs to build simple, cheap vehicles and mass sell them in its original country and Europe. If its popularity picks up, then Reva has hopes of expanding its business to the States and will brand the model as G-Wiz.

The Reva, which has received funding from Draper Fisher Jurveston and the Global Environment Fund, used to be powered by lead-acid batteries. Top speed was been recorded at 50 miles per hour, while the range of this EV was about 50 miles. While these statistics aren’t necessarily jaw-dropping, the Reva is an ideal car for short, daily commutes. If used in its ideal way, the Reva can easily save a working driver thousands of dollars a year.

Reva Electric Car has since switched to more powerful lithium ion batteries that has increased its range to 75 miles. This new model has a sportier look and upgraded electronics, and the company hopes that these specifications will glaze the Reva with more commercial appeal to consumers worldwide.