Electric Car Reva
 |
Details
Themes: Mergers Acquisition and Takeovers
Period : 2001
Organization : Reva Electric Car Company
Pub Date : 2002
Countries : India
Industry : Automobile & Automotive
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Case Code : BSTR030
Case Length : 9 Pages
Price: Rs. 300;
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Background Note Contd...
Sudarshan had dreamt of launching a small car in Bangalore and making the city pollution free. However, he planned to build an electric car after his son Chetan, joined Amerigon as a project manager for an EV project. Explaining the primary objective of RECC, he said, "It is the passion for the environment and turning Bangalore into a pollution free city." Further, the Maini Group manufactured electrically operated material handling equipment.
Sudarshan explained, "...the group's material movements division, which manufactured electrically-operated material handling equipment, offered us the obvious choice to venture into the electric car industry rather than the conventional car market. It is a car that is made for India to suit Indian conditions using material available in India."
TABLE V
THE MAINI GROUP COMPANIES
Company |
Year of Establishment |
Operations |
Maini Precision Products |
1973 |
Manufactured and supplied of more than 500 types of machined components to the OEMs like Bosch and General Motors. |
Karnataka Electronics |
1976 |
Produced fuel filters, filter inserts, hand primers, roller tappet pins and diaphragms. |
Bangalore Commercial Corporation |
1980 |
The trading arm of the Maini group |
Maini Materials Movement |
1986 |
Offered total in-plant material handling solutions to a wide range of industries. |
Maini Granites Limited |
1992 |
A 100% Export Oriented Unit. Produced high precision, high quality granite tiles. |
Maini Abrasives |
1992 |
A joint venture between the Maini Group and Abressa (Spain), the company produced a wide range of abrasives for grinding or polishing of marble, granite, ceramics, terrazzo and artificial stones. |
Maini Info Solutions |
1999 |
Offered a range of business solutions in information technology, including integration of packed applications for product development and process management. |
Source: www.mainigroup.com
On The Road to Reality
Reva Electric Car Company (RECC) was established in 1994 through a joint venture between the Maini Group and Amerigon. Amerigon had a 32% stake in RECC's Rs 58 million equity and Maini Precision Products and Maini Materials Movement held the remaining 68%. Amerigon helped RECC in building the chassis of Reva.
The car was manufactured at RECC's plants at Bommasandra in Bangalore. The car's key technologies included its steel frame, the energy management system and a motor controller. The motor controller was developed through a technical collaboration with Curtis, one of the world's leading manufacturers of motor controller for electric vehicles.