New York close to Reva EV plant deal
Reva, an electric-car maker based in Bangalore, India, plans to work with Bannon Automotive, a Long Island electric-car firm, to build a three-door hatchback at a still-to-be-determined site near Syracuse.
The plans, which await final approval from Reva’s full board, were reported by the Post-Standard, a Syracuse newspaper, which noted that it was “not clear how much of the company’s financing package is complete.”
Only a couple of electric car plants currently exist in the United States, and electric cars have yet to hit the roads in large numbers.
Tesla plans a power-train plant in Palo Alto, though it is still looking for an assembly plant site for its Model S.
Fisker Automotive, another California start-up, plans soon to announce the site for a United States plug-in hybrid plant, according to Dow Jones.
The company recently received $529 million in loans from the Department of Energy.
Global Electric Motorcars, a Chrysler subsidiary, also makes electric cars in Fargo, N.D.
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The situation remains fluid, creating an extraordinary degree of uncertainty over what the full global impact of the virus will be. In the IEA’s central base case, demand this year drops for the first time since 2009 because of the deep contraction in oil consumption in China, and major disruptions to global travel and trade.
“The coronavirus crisis is affecting a wide range…
