Reva Electric Car Company (RECC) will launch a new electric car by the end of the year 2008 and the company said it would launch one new vehicle and one variant every year from this year onwards.

Chetan Kumaar Maini, deputy chairman and chief technology officerof RECC said, “We will launch one new vehicle and one variant every year and by the end of 2008 calendar year, we will rollout another electric car with more advanced features, and fitted with a battery that can traverse wider distance,” he said.

“Governments across different countries are offering incentives for electric vehicles. With such fiscal benefits and growing awareness, the market for these vehicles will expand globally as well as in India,” he said. Maini said that the company’s current capacity is 6,000 vehicles, which would be expanded to over 30,000 units over the next six months.

RECC has built a new plant in Bommasandra, Bangalore and is having three variants, in the range of Rs 3 lakh to Rs 5 lakh.  The car runs on a battery that costs Rs 50,000 and has to be replaced once in three years. The company says the car offers a saving of Rs 2 lakh over a five-year period.

In India the company is now looking to strengthen its presence in Delhi, Mumbai, Ahmedabad, Chennai, and Chandigarh. Last year the RECC launched Reva-I a new upgraded version of Reva electric car. Reva-I uses AC drive train to give better speed, range and acceleration.