Electric Car Reva
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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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The Indian Passenger Car Industry Contd...
The first low-emission vehicles were the Hybrid Electric Vehicles (HEV), which combined the ICE of a conventional automobile and the battery and motor of an electric vehicle. The combination offered many advantages including fuel efficiency and environmental benefits. These vehicles were developed to overcome the disadvantages of an electric vehicle. The electric vehicles could be used only for short trips, as its battery had to be recharged after a few kilometers.
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Some of the first HEVs include Toyota's Prius, Honda's Insight and Civic. In 1991, the GoI framed the first legislation on air pollution. By mid-1990s, the emission level for automobiles was tightened. The industry started using the latest technology and produced increasingly cleaner cars. Background NoteThe Maini Group (Refer Table V) was established in 1973 in Bangalore (Karnataka) by Sudarshan. K. Maini (Sudarshan)4, who aimed to blend western technology with Indian craftsmanship. |
The group followed the 'single zero principle'5 and its philosophy was
'Karma Parma Dharma' (Work is Worship). The group's products ranged from precision components to in-plant material handling equipment and, from granites to abrasives. The group was also involved in international trading and offered ERP solutions. Maini Group had technological agreements with Abressa (Spain), Clark-Blue Giant (US), Hensel (Germany), HIAB (Sweden) and STILL (UK).
Some of the major clients of the group included General Motors, Bosch, BT, MIC, OMR and other Indian companies in the automobiles, consumer goods, engineering, and food processing and pharmaceuticals industries. The group was known for its quality standards and its plants had ISO 9001 and QS 9000 certification. Chetan Maini (Chetan), son of Sudarshan, the chairman of the Maini Group, was always fascinated with cars and designed his first car during his school days.
He made a remote-controlled, battery-operated toy and bagged the first prize at the school's science exhibition. He graduated from the University of Michigan, Ann Arbor, with a specialization in solar-powered vehicles. After graduating, he worked at General Motors' EV factory as an intern for six months. Chetan then joined the US-based Amerigon Electric Vehicle Technologies Inc. (Amerigon)6, which was involved in building EVs.
At Amerigon, he built about six types of Solar and HEVs. He was also the leader of the team that won the 'GM Sun Race of Solar Vehicles' in 1990 and the team also bagged the 3rd position in the World Solar Challenges in Australia. In the early 1990s, Chetan planned to build his own EV and established RECC with the help of Sudarshan. Chetan said, "Cars are my passion, and the Reva is my dream that will soon become a reality."
4] Sudarshan K Maini was a technocrat at Motor Industries Company (MICO), the Indian subsidiary of Bosch and the German-based engineering giant.
5] Meaning zero defects, zero delay, zero excuses and zero compromises.
6] Amerigon was a subsidiary of Amerigon Inc., a provider of aerospace technology to the automobile industry. Amerigon was known for its successful commercialization of its technologies. It concentrated on developing advanced components for the automobile industry. The company had researched and invested substantially in electric vehicle technology and aimed at commercializing it throughout the world.