Bangalore-based Reva Electric Car Company today said it is scouting for partners in the US and Europe for setting manufacturing bases.
“We are exploring to set up contract manufacturing facilities in the overseas market, specially in the Europe and US,” Reva Electric Car Company Deputy Chairman and Chief Technology Officer Chetan Maini told reporters here on the sidelines of Environmentally Friendly Vehicle Conference here.
He said the company is “having negotiations with some local parties but so far nothing has been finalised.”
Maini also said the company aims to increase sales to 30,000 units in three years from less than a 1,000 units per year at present.
“The sales will be around fifty-fifty from domestic market and exports,” he added.
In order to meet targets, the company is expanding its production capacity. It will commission a new plant in Bangalore by the mid of 2010 and increase the production capacity to 30,000 units in three years.
The current facility at Bangalore has an annual production capacity of 6,000 units per annum.
“We have invested around Rs 30 crore for the first phase of the new plant and we will continue to invest more for step by step expansion of the plant once it becomes operational,” Maini said.