Mahindra buys 55.2 of Reva

Mahindra and Reva have announced a collaboration to form a new company called Mahindra Reva Electric Vehicle Company that will see Reva's electric powertrain technology put into Mahindra & Mahindra vehicles. Mahindra will also take a 55.2-percent equity stake in Reva Electric Car Company and has so far invested about $10 million in the new company.