Indian EV maker Reva gets extra $20 million investment

Indian electric car manufacturer Reva has just scored additional investments of $20 million from Draper Fisher Jurveston and Global Environment Fund (GEF). Reva's cars are currently available in UK, Italy, Malta, Sri Lanka, Cyprus and Greece, but not in Australia. The new money will be used to expand their production and distribution capacity, and develop new models. According to GEF president and CEO Jeffery Leonard this is the fund's first investment in an electric vehicle manufacturer. The Reva has a range of about 50 miles and a top speed of 40 mph.

[Source: via Hugg]

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