Mahindra Reva Electric Vehicles on Friday launched its Revai priced at Rs 310,000 (ex-showroom Pune) and is targeting tripling its sales in the next 12-18-months.

"We will be tripling our sales to 3,600 units from the present 1,200 units. Of this, the domestic market will constitute 3,000 units and the balance 600 in overseas markets. We have set a 12-18-month target to achieve this target," Mahindra Reva Electric Vehicles' chief operating officer, R Chandramouli, told reporters in Pune.

The company plans to launch a slew of models in the domestic as well as overseas markets in the coming year.

"We are planning to launch a full-fledged four-seater vehicle in the next calender year," he said, adding the electric vehicle industry will continue to grow in India in the future.

Mahindra Reva plans to ramp-up its dealer network ten-fold to 100 across 60-70 cities by January 2012.

"Presently, we have 10 dealers--we are planning to set up another 90 dealerships across 60-70 cities in the next two-years," Chandramouli said.

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Economical

As against a petrol car, the REVAi can halve your commuting costs for the month.

No gears or clutch

The REVAi is fully automatic. Perfect if you're uncomfortable with the idea of wrestling with gears.

No tailpipe

Making it a zero emissions vehicle on the road.

Whisper quiet operation

The REVAi motor emits no more than a barely audible hum. Even at top speed.

Highly manoeuvrable

The REVAi has a turning radius of just 3.5 mtrs. Which means you can carve your way through city traffic just as easily as you can park.

Charging

The REVAi is as easy to charge as your mobile phone.

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Safe:

Dent-proof ABS body panels, side-impact beams, a steel space frame and dual-braking system, frontal crush zone, low center of gravity.

Intelligent:

Two onboard computers and remote diagnostic capabilities enable quick vehicle analysis and prompt service.

Spacious:

Rear seats fold, providing extra luggage room.

Tubeless tyres:

Special tubeless tyres enhance driving range and provide an improved road grip.

Easy ingress and egress:

Wide doors and high seating position provide convenient entry and exit.

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Extra comforts:

Remote hatch release, 4 speed blower, adjustable head-rest.

Rear seat belts:

Ensures your child's safety.

Automatic hill holding

For slope negotiation.

'Disc brakes

Sure braking. Regenerative braking puts energy back in your batteries.

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The Mahindra group acquired the Reva in May 2010 for $7.1-billion to enter the electric vehicle market.

The company's new plant at Bangalore would go on-stream by June next year and would have a production capacity of 30,000 units per year, he said, adding the present capacity of the plant is 1,200 units per month.

The company is eyeing new markets like Nepal, Bhutan and Malaysia to realise its growth potential.

The company is presently exporting its cars to the UK, Norway, France and Spain.

The buyers now pay an interest-free refundable deposit of Rs 100,000 followed by a monthly instalment of about Rs 7,999 for 36-months.

At the end of the third year, customers can either continue to use the car by making a payment or by foregoing the deposit or return the car and claim the refundable deposit.