The news that Mahindra & Mahindra (M&M) will be buying majority stake in Reva, has angered GM India, which too was interested in the company.

Post the M&M news, it announced that it will be pulling out of the collaboration that it has developed with the electric car company, Reva Electric Car co.

GM India had signed a technical tie-up with the Bangalore-based company last year. The idea behind it was to use the technology and develop the electric version of GM's car, Spark. It was expected that the new version would hit the Indian roads by the end of this year.

But now that M&M has taken over more than 55 per cent of the stake in the company, with the idea of using its technology; it seemed fair for GM India to move out of the deal.

Talking about this, GM India Vice President, P Balendran said that the company may not continue with the Spark EV program after the latest development on Reva's side.

No further announcement was made.

M&M President, Pawan Goenka said that he is open and are ready to allow GM India to use the technology of Reva.