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In a major deal between Indian automobile giant Mahindra & Mahindra (M&M) and the world famous electric car company Reva, M&M signed a deal to buy out a majority stake of 55.2% in Reva. The company was renamed as Mahindra Reva Electric Vehicle Co Ltd. M&M''s President for the Automotive business, Pawan Goenka became Chairman and Reva''s Deputy Chairman and Chief Technology Officer, while Chetan Maini played the role of Chief of Technology and Strategy in the newly formed company. With over 60 years of profitable operations throughout the world, such an acquisition by M&M was considered a major step towards enhancing its sustainable development initiatives. Mahindra invested in fresh equity worth $10 million in the company. Both M&M and Reva had some technologies that were unique to the respective companies. M&M planned to adapt Reva''s Electric Vehicle technology in its product portfolio. Similarly Reva got an opportunity to reach a wider customer base through Mahindra''s sales and distribution networks. Both companies had something to gain from the buyout. However, there were criticisms surrounding the consequences of the deal. Experts were apprehensive whether customers could accept Reva along with its drawbacks and whether Mahindra''s growth might be hindered because of Reva''s limitations. Questions also arose regarding the additional burden on other auto manufacturers because of Reva''s expensive batteries. On the whole, the deal triggered doubts about the role of acquisition as a growth strategy for Mahindra and Mahindra.