After the big acquisition of Reva Motors by Mahindra & Mahindra Ltd., we have another update for you all from another company that tied up with REVA Electric Car Co Ltd.
Post the announcement of the acquisition of Reva’s stake by Mahindra & Mahindra Ltd., General Motors India on Wednesday said it may pull out of its collaboration with Reva Electric Car Co following Mahindra & Mahindra buying majority stake in the Bangalore-based firm.
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GM, which had signed an agreement with Reva Electric Car Company last September to jointly develop and produce electric vehicles, the first of which was expected to hit Indian roads later this year, indicated it would go at it alone.
General Motors when entered into an agreement with REVA had planned to launch Spark electric under its Chevrolet Brand. But after this deal, the development will push General Motors to launch the Electric Spark on its own and the tentative launch may get delayed.
What do you think with this latest development? How will Mahindra & Mahindra now gain with this tie up? We already know that Mahindra is a forward looking company which has proven its forward looking approach earlier as well by launching the Micro-Hybrid Scorpio.
So let us know your thoughts on the same in the comments section below.