Mumbai: India's oldest alternate fuel car maker, Reva Electric Car Company (RECC), has been named by Frost & Sullivan for the 2008 Frost & Sullivan European Automotive Powertrain Company of the Year Award. The Banglore-based firm was chosen for demonstrating excellence in sales volumes, superior market penetration and high levels of customer satisfaction within the electric vehicle (EV) industry.
According to industry statistics, in 2007, on an average, REVA sold one electric car per day in the United Kingdom.
Keith Johnston, president, European Operations, Reva Electric Car Company, said, "The Frost & Sullivan 2008 European Automotive Powertrain Company of the Year Award recognises REVA as one of the world's leading R&D centers for Electric Vehicles and reflects the company's position as the world number one EV manufacturer. We dedicate it to our engineers and investors.''
RECC is a leading global developer and manufacturer of electric cars and a pioneer of EV technologies. It is credited of being the first company to break through the price-performance barrier with its electric vehicle. The company is the first to successfully commercialise EVs and, the first to volume sell EVs with AC motor drives.
The company's current model - REVAi - has been designed to facilitate upgrades to li-ion packs when they are made available for sale in 2008. With the incorporation of the new AC electric motor, the REVAi increases the mid-range torque by 40 per cent and offers a boost mode for short term acceleration.
Research and development on lithium ion batteries reached new heights when RECC successfully tested and evaluated lithium ion batteries for the REVA quadricycle. The newly developed lithium ion batteries provide a driving range of more than 140 kilometers compared to 60- 80 km from the existing lead acid battery pack.
RECC is building a new and ultra low energy manufacturing plant to Leeds (The UK) guidelines that will expand production capacity to thirty thousand vehicles per year by the end of 2008. This will enable the company to increase penetration within existing and new markets as the emission free sector expands rapidly over the next five years. The company has announced that it will launch one new vehicle and one new variant every year in order to build upon its position as the pioneer of the European EV market.
The Frost & Sullivan Award for Company of the Year is presented each year to the company that has demonstrated excellence within its industry. The Award is based on numerous factors including the company's business development, competitive strategy, and leadership within a particular industry. This company is perceived to exhibit outstanding management, consistent growth, high quality products and/or services and positive social and economic impact on local and national communities.
The company is also recognised for its exceptional customer service, high calibre performance, ability to combine technology and successful strategic initiatives, and should have proven expertise in taking advantage of market changes by capturing and solidifying market presence, or through execution of innovative strategies within the existing competitive landscape.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
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