New Delhi: The electric car segment received a huge boost on Wednesday with utility major Mahindra and Mahindra (M&M) buying out a controlling stake of 55.2% in the electric car maker Reva. The company also promised to make an equity infusion of Rs 45 crore and has renamed the company Mahindra Reva Electric Vehicle Co following the joint venture.
Electric and hybrid vehicles are gaining a foothold because they are cheap and clean. But batteries are either expensive or short-lived. Their future rests with industry
