The Telegraph
Since 1st March, 1999
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Reva Electric hopes to break even next year

New Delhi, Nov. 13: Electronic car maker Reva Electric Car Company (RECC), which launched its air-conditioned model Reva Classe, hopes to break even by next year.

“We are projecting sales of about 2,500 units a year,” RECC managing director Chetan Maini told reporters. The Reva Classe will be the cornerstone of the firm’s operations. Maini said the firm plans to raise production to 12,000 units by 2004 from the current level of 1,500 units.

The car currently has three models—the air-conditioned Reva Classe with remote control facility and auto-cop security in addition to usual features like central locking and leather upholstery; the Reva A/C, a stripped-down version of the Classe and the base model Reva, without an air-conditioner. The Reva Classe has been priced at Rs 3.18 lakh, Reva A/C at Rs 2.88 lakh and Reva at Rs 2.63 lakh.

“The prices depend on tax concessions from respective state governments and will vary from state to state,” a senior official said. “For Bengal, it will cost around Rs 30,000 extra as no tax concessions are available.”

“The car does have some utility aspect, but it will have more of a snob value. If they are able to sell around 400 cars a year, they will be laughing all the way to the bank,” auto analyst Murad Ali Baig told The Telegraph.

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