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Indian electric car maker eyes Slovakia

THE INDIAN firm Reva Electric Car Company has shown interest in investment opportunities in Slovakia. Economy Minister Ľubomír Jahnátek has already met the president of parent company Vectra Group, Ravi Rishi, to discuss Reva Electric Car Company’s plans to start manufacturing electric cars in the European Union.

THE INDIAN firm Reva Electric Car Company has shown interest in investment opportunities in Slovakia. Economy Minister Ľubomír Jahnátek has already met the president of parent company Vectra Group, Ravi Rishi, to discuss Reva Electric Car Company’s plans to start manufacturing electric cars in the European Union.

“The Indian company is exploring investment opportunities in Slovakia,” the ministry announced in mid March, as quoted by the SITA newswire. “In the event of a positive evaluation, the investor is giving priority to the area around Bánovce nad Bebravou [Trenčín Region], where its parent company Vectra Group already runs a factory.”

At the meeting with Rishi, the Slovak minister emphasised that Slovakia is particularly keen to attract value-added projects.

“Research and development of so-called green technologies in new kinds of alternatives drives, for instance, hybrid or electric cars, fulfils this condition,” added the ministry.

Jahnátek indicated to the Hospodárske Noviny financial daily, while not specifying the name of a company, that a car manufacturer is eyeing Slovakia with a plan in mind to manufacture about 35,000 cars annually and employ about 1,000 people.

Mária Nováková, secretary general of the Automotive Industry Association of the Slovak Republic (ZAP), welcomed the news, but pointed out a lack of infrastructure for electric cars in Slovakia.

“It is necessary to create the infrastructure,” Nováková told The Slovak Spectator. “Electric cars need infrastructure including charging stations.”

She also pointed out that since Slovakia closed down one of its nuclear power stations at the end of 2008 it is not self-sufficient in power production, adding that it is up to investors to ponder whether such cars would appeal to Slovak clients.

Vectra Group is the majority shareholder in the company Tanax in Bánovce nad Bebravou. It is also, together with another Indian company, Beml Limited, a core partner in Konštrukta Defence in Trenčín.

The Reva Electric Car Company, established in 1994 with headquarters in Bangalore is a world leader in the production of environmentally friendly vehicles. As far back as 2001, the firm launched production of the first Indian electric car, with zero emissions, designated mainly for urban traffic use. The vehicle is easy to use and known for its economical performance, and is now being exported from India to 24 countries, SITA wrote.


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