Thursday, November 12, 2009
NLE, RECC sign agreement to develop electric vehicle market in Iceland
Northern Lights Energy (NLE) and the Bangalore-based Reva Electric Car Company (RECC) have signed an agreement to jointly develop the electric vehicle market in Iceland. NLE will also have exclusive distribution rights for the Reva NXR in Iceland, which will go on sale there by mid-2010.
RECC is considering the possibility of setting up its manufacturing facility in Iceland, from where it will supply its electric cars to various European countries. ‘Iceland, with its advanced electric grid technology that uses 100% renewable energy in electricity production is a perfect location for zero-emissions electric vehicles,’ says Gisli Gislason, the Chairman of NLE.
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