Reva Electric Car Company has been granted a subsidy of $2,600 per car from the government of Japan. In the next two months, it will demonstrate its electric car in various Japanese cities.
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Just-auto has learned that the subsidy is separate from the tax concessions benefiting non-polluting vehicles and will ensure that the car will be priced competitively for the Japanese market from 1.29 million yen in standard trim to 1.49 million yen for the top line model.
Sales will be through the recently appointed distributor with a chain of 35 outlets across the country and incentivised by a government regulation mandating that 10% of all government vehicles be electric by 2005.
Success in Japan is pivotal for Reva as it strives to close a deal to raise $15 million via private equity in the next few months.
Deepesh Rathore / Tilak Swarup
