India Broadband Forum

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Reva Electric Car Company Private Limited is the only automobile company in India, which manufactures electric cars. And they have announced receiving investments worth USD 20 million from Draper Fisher Jurveston and Global Environment Fund.

This investment would help the company expand and consolidate its position in world’s electric car production market.

They would use this money to expand business by increasing production capacity, developing newer models and further enhancing its international and domestic distribution.

Mr SK Maini, chairman of Reva said that they are thrilled to receive these funds and they have come at the right time. Mr Jeffery Leonard, president and CEO of GEF added that this is the first investment from them on an electric car company and they aim to deliver affordable transportation for short-distance urban commuters.

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.