Jan Olaf Willums, chairman of ZEM says, "The key to making electric cars affordable is to extract value from the batteries’ full life cycle. At the end of their first life in electric cars, batteries still have capacity to store energy, which can be used in other stationary electricity storage applications. We will work with REVA as part of our ‘ZEM Initiative’ to create and test these applications, and thereby determine a ‘second life’ and a residual value for the batteries."
Chetan Maini, deputy chairman and chief technical officer of REVA says, "The benefits of second life creation can be passed on to our customers in the form of reduced costs. Then, at the end of their lives, our batteries will be recycled, thereby minimising waste and harm to the environment, a core part of the REVA Born Green philosophy."
Prior to its new car, the REVA NXR, going into production early 2010, REVA has tested its lithium ion battery packs intensively. Working with ZEM will advance the understanding of the actual real-life data being collected – key to improving battery technology and making EVs more accessible to all.
The ZEM (Zero Emission Mobility) Initiative enables mobility services for the electric vehicle industry. ZEM Energy Ltd helps auto manufacturers provide better financing packages, determine residual values, and offer other battery related services for their customers.
REVA is the brand of Reva Electric Car Company, a Bangalore-based company formed as a joint venture between Maini Group of India and AEV LLC of California and backed by US investors. Today REVA is selling, or test marketing in 24 countries worldwide and has the largest deployed fleet of electric cars on the market with over 3000 EVs on the road and more than 70 million kms of user experience.