An Indian company is eyeing up Christchurch as a manufacturing base for 30,000 electric cars, spurred on by New Zealand’s new free trade agreement with China.
But the deal – understood to be under negotiation - is partially contingent on securing $US20 million private capital from New Zealand investors.
The company, Reva, is a joint venture with a New York based fund, but based in Bangalore. It has the largest deployed fleet of electric cars in 24 countries worldwide, with 3000 EVs (electric vehicles) on the road.