Electric Cars For Sale

Reva Electric Car Company from Bangalore, India has entered into a joint venture with a US based car maker Bannon Automotive for opening an assembly plant in a Syracuse suburb. The company plans to assemble its plug in electric car, a three-door hatchback called NXR and a sporty two-seater electric car called the NXG at this plant.

Bannon Automotive is a start-up electric car company based in Freeport, New York. Its CEO Paul Wimer announced at a news conference that the company selected Syracuse for the assembly plant because it was close to key markets and they had got the support of local Senators like David Valesky and Charles Schumer, and also from local, state and federal officials.

Bannon Automotive and Reva have bought a building in Clay, Syracuse which has an area of 150,000-square-foot. The companies will be renovating and converting the place into an assembly plant. They will be together investing $26.5 million. The Joint venture will also be funded by several federal agencies and the State of New York which will provide Empire State Development Corporation grants worth $3 million and tax incentives and breaks equaling $3.76 million. Bannon and Reva plan to establish and begin running the plant in the coming year and eventually manufacture 15-20 thousand electric cars for sale annually.