Bangalore, Dec. 2: REVA Electric Car Company, India’s first electric car manufacturer, today received an investment of $20 million from Draper Fisher Jurveston (DFJ) and the Global Environment Fund (GEF).

REVA plans to expand and consolidate its position as one of the leading electric car companies globally.

Chairman S.K. Maini said the company would use this investment to increase its production capacity, develop new models and further enhance its international and domestic distribution networks.

“We are very pleased to have received this significant investment from GEF and DFJ and look forward to their experience in helping us become a global leader in the electric vehicle market,” he added.

H. Jeffery Leonard, president and chief executive of GEF, who has joined REVA’s board of directors, said since 1990, GEF had reviewed scores of business plans from electric car companies proposing to displace the internal combustion engine. “REVA is GEF’s first electric vehicle company investment.”