After passing on the official word that the Indian subsidiary of the American automaker General Motors will be ending its tie-up with Reva, the company further said that it will be developing the electric vehicles on its own at its Headquarters at Detroit.
The announcement came after the electric car company; Reva sold its majority stake to the Indian conglomerate, Mahindra & Mahindra. The India head of the GM’s operations, Karl Slym has recently said that the company does not see any value now in its agreement with Reva and would like to go alone in the electric car market.
According to the terms of the deal that were announced last year, GM and Reva were working together to develop electric vehicles including an electric version of the Spark.
Slym told that the company will now showcase the hybrid electric vehicle, Chevrolet Volt in the fourth quarter of 2010, after its global launch in November.
The electric vehicles are the talk of the town and the companies are down everything possible to get their share out of this lucrative pie.
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