Bangalore-based Reva Electric Car Company today said it is planning to set up an assembling plant in Iceland, and has joined hands with investment firm Northern Light Energy for developing electric vehicles for the North Atlantic island nation.

Click here to visit SME Buzz

Also Read   Related Stories News Now - Forex reserves down $1.13 bn - Reva to rope in franchises for production abroad - GM looks to sell 4,000 electric cars - GMI aims to sell 1,500 units of Chevrolet Cruze this year - Areva T&D signs EPC pact with Maharashtra power co - Reva plans battery leasing to push car sales   Also Read   Related Stories News Now - Markets close to 2-year high - HP inks strategic deal with Polycom, abandons Tandberg - For Google stock, China could mark turning point - Doha talks not at their expected stage: Sharma - NEWSALERT: No immediate hike in lending rates, says O P Bhatt More

"Iceland is being considered by Reva as a possible site for an European assembly plant," the company said in a statement without giving further details.

Under the agreement, Northern Light Energy (NLE) would be the exclusive distributor for REVA's NXR and NXG cars in Iceland, it added.

NLE has a project for 2012 to develop infrastructure and services for electric vehicles in Iceland.

Reva had showcased the NXR and the NXG during the Frankfurt Auto Fair in September, and the vehicles are scheduled for global launch in 2010 and 2011, respectively.

"The 2012 project is one of the most ambitious yet achievable transport electrification projects in the world today and we are pleased to be able to contribute our technologies and products," Reva President (European Operations) Keith Johnston said.

The company had earlier this year announced a joint venture with car major General Motors India for providing powertrain and energy management systems for the latter's Chevrolet Spark.

Other Stories      - Markets close to 2-year high - HP inks strategic deal with Polycom, abandons Tandberg - For Google stock, China could mark turning point - Doha talks not at their expected stage: Sharma - NEWSALERT: No immediate hike in lending rates, says O P Bhatt More

Tags : Reva | electric car | Northern Light Energy   Read Business news in  Advertisements             " Instant Loan for Corporates"    Get a complementary DLF IPL Ticket worth Rs500       An IT infrastructure that meets increased business demands without increase in costs    Transfer your funds at ease from abroad       Get triple tax benifits, and doosra income Advantage    Now Pick your advisor with ING Life Insurance   Replace your aging IT hardware and dramatically lower your IT operating expense   Tata AIG Health Insurance - Complete Health Cover with Tax Savings.   Reduce cost and increase profitability.. know more   Overcome IT challenges & exceed business expectations with a simple click      Giftwithlove.com: Same Day Gifts & Flowers Delivery to India