General Motors India pulls out its deal with Reva

If winter comes can spring be far behind. This is what happened to REVA Electric car company. With the acquisition bid from Mahindra and Mahindra finalized, it made a reverse impact on the General Motors’ deal for its Spark electric version. Now there would be no deal between GM and Reva. Instead, saod GM’s VP, it will go on its own for electric version. There was an agreement between GM and Reva for providing technology of electric version for Chevrolet Spark in India and global markets. REVA confirmed the pull out of GM and the exchange of money would be sorted out soon, said REVA’s Financial Officer. However, M&M has no inclination in the continued deal for REVA-GM.

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