Icelandic drivers will see electric vehicles on local streets by 2012 thanks to the work of Northern Lights Energy (NLE) and REVA. The Icelandic investment firm recently acquired exclusive distribution rights to REVA’s NXR hatchback and other plug-in models in Iceland. NLE is also working to install charging stations and convert fleet vehicles to electric in order to support the rollout of REVA vehicles. This partnership is part of NLE’s Project 2012, which intends to develop the first border-to-border EV charging infrastructure in the world.
NLE and India-based REVA began work on this partnership at September’s Frankfurt Motor Show when the automaker unveiled the NXR. This four-seat EV reaches a maximum speed of 65 miles per hour and offers a range of 99 miles between charges. The NXR features a partial 15-minute charge, a fuller 90-minute charge and a complete eight-hour charge for a variety of driver needs. REVA is already offering EVs in 24 countries with 3,000 EVs sold through November 2009. NLE and REVA will begin to market the NXG in Iceland in 2010 with plans to unveil the NXG coupe in Iceland by 2011.
The success of the NLE/REVA partnership may depend on the ability to expand production capacity ahead of the Project 2012 deadline. REVA is expanding its India production facilities with the assistance of General Motors with the potential to produce 30,000 units per year. REVA representatives have mentioned Iceland as one of several finalists for a European production facility within the next five years. NLE’s investment capital and the potential for nearly 100% of the early adopter market in Iceland should convince REVA to expand its production to the North Atlantic.
The NLE/REVA collaboration benefits from the automaker’s vertical integration of EV development as well as its penetration into the European market. REVA handles everything from vehicle design and licensing to production and dealer franchising within its Bangalore headquarters. The automaker has already made inroads into Great Britain, Spain, France, Germany and eight other European markets through testing and marketing. The single issue that could derail the unveiling of the REVA NXR and the Project 2012 infrastructure is the Icelandic economy, which is still struggling after its 2008 collapse. NLE and REVA will have to keep vehicle prices reasonably low to appeal to Icelandic consumers.
