Mark Weiner of the Syracuse Post-Standard writes - “Reva Electric Car Co., the Bangalore, India-based electric car maker whose partners want to open an assembly plant in Central New York, agreed Wednesday to sell a controlling stake to a larger firm that could inject new capital into the company.

Mahindra & Mahindra Ltd. will acquire 55.2 percent of Reva, and the company will be renamed Mahindra Reva Electric Vehicle Co., the companies announced.
Full financial terms of the deal were not disclosed. Mahindra & Mahindra manufactures compact trucks, and plans to begin the first exports of Indian made vehicles to the United States in December.”

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