All sparks out of GM, Reva's deal
The latest partnership between Mahindra & Mahindra and Reva Electric Car company as affected the deal General Motors and Reva could have shared. The deal between Reva and General motors started last year and with this latest development seems to be in vain.
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The Indian wing of General Motors recently announced that it would not be possible for the company to proceed any further on the deal with Reva for the production of Electric cars in India. The deal especially aimed at introducing the electric version of GM's much popular Chevrolet Spark.
The Spark EV (electric vehicle) program, that GM was to undertake along with Reva would now indeed be carried solely by GM India. Vice President of General Motors India P. Balendran indicated that there would an announcement on the same in few days by the company. The deal made last year between the two companies not only included the development of electric cars jointly, but also to develop India as the new manufacturing hub for such cars.
The two companies have however kept the financial details to themselves and not much about the deal is out in open. The officials from M&M however commented that the company is not antagonistic about continuing the deal with Reva.
Read More on : click here to read more on Chevrolet Spark
