Electric cars: Reva launches new car models at Frankfurt Motor Show TNR.v, CZX.v, SQM, ROC, FMC, WLC.v, CLQ.v, AVL.to, LI.v, RM.v, RES.v, DAI, BYDDY,

Very impressive claims on recharging time and range of this nice looking Electric car. Pricing range and idea of Electric Mobility: pay as you go for the battery will bring electric cars to the reach of mass market consumers.

"Now we have more estimations from industry insiders on the potential size of the market for Electric Cars HEV and EVs, we are waiting for production figures in coming months to update our Lithium Demand estimation model. But you can get a very good sense by applying different market share penetration levels of EV and its effect on Supply - Demand picture."

FRANKFURT: Reva Electric Car Company announced the launch of its model Reva NXR while unveiling another variant Reva NXG, at the Frankfurt International Motor Show. Reva NXR, a lithium-ion battery powered car is scheduled to go for production early next year and Reva NXG's manufacturing is scheduled for 2011, a company statement said. Reva NXR is a four-seater hatchback model and can attain top speed of 104 kmph and cover a distance of up to 160 kilometres in a single charge, it added. The car is loaded with several other features such as keyless operation, dual charge port, digital display and SMS alerts. It can travel up to 320 km per day using 90 minutes fast charges and a fast charge of 15 minutes will provide a 40 km range, the company said. The company has priced Reva NXR at 14,995 euros and Reva NXG at 23,000 euros excluding the cost of battery in European market. However, prices of both models in Indian would be announced the next year. "NXR is a stylish car packed full of user-friendly technology. You can order one from today and production will start early next year.." Reva Chief Technology Officer Chetan Mani said.

"The world cannot afford conventional cars anymore." A surge in global oil prices last year had helped raise people's consciousness, he added. "Five years ago I don't think people were thinking about electric cars," said Maini, Reva's deputy chairman and chief technical officer. When consumers mull a purchase now however, "they would at least consider an electric car," the Indian entrepreneur added. Reva will launch its Bangalore output with capacity of 300,000 vehicles per year. "We believe it may take us two to three years to get to full capacity but we think the market potential is very high, and that's why we are setting up that kind of capacity," he said. He cited a study which forecast a market of 500,000 electric vehicles in Europe in 2015, while also stressing a key role for governments in developing electric cars. "There is a societal cost to pollution" that justified funding to help companies invest in infrastructure, technologies and product launches, Maini maintained. "Once people use it and feel the benefits, the volumes grow and prices come down and then you don't need support" any longer, he said.
Reva, which has produced electric vehicles since 2001, claims now to have solid experience in the field. Maini said 300,000 of its cars were already being used in 24 countries. Powered by a lithium-ion battery, the NXR is a three-door model designed to carry up to four passengers. It is expected to cost 15,000 euros (22,000 dollars), minus the battery which specialists note are one of the most expensive components, for an "inter-city" version. A pure city car with less range and traditional batteries is to be offered for less than 10,000 euros. Customers would be charged "a mobility fee" for battery rental, but they will be available for purchase as well. The prices were noticeably higher than the 2,055 dollar tag for the Indian produced Nano, which was launched in July and is currently the cheapest car in the world. Reva Electric Car, a Bangalore-based company, is a joint venture between India's Maini Group and AEV LLC of California.