Mahindra enters global electric car market with majority stakes in Reva.

In a major marketing maneuver, Mahindra and Mahindra Ltd have purchased 55.2% percent stake in the Bangalore based Reva Electric Car Company. The company is now renamed as Mahindra Reva Electric with Pawan Goenka as the chairman and Chetan Maini as the chief of technology and strategy. This move by M&M is tune with its aim to promote green and environment friendly vehicles in India as well as overseas. Mahindra was the first Indian company to launch micro-hybrid technology in India with its popular SUV the Scorpio and the Indian auto giant now intends to launch a state-of-the-art electric vehicle globally.