Electric car maker Reva Electric Car Co. Thursday announced that it will launch a new model powered by advanced battery technology this year and also set up its second manufacturing plant in the country.

"We will launch our lithium-ion based battery-powered car in May this year. This will have 120 km range, ideal for city driving conditions. The new battery will allow consumers to recharge within an hour," Reva deputy chairman and chief technical officer Chetan Kumaar Maini said.

"We will add another factory to the existing one in Bangalore with installed capacity of 30,000 vehicles," he said.

The company plans to sell 1,000 electrical vehicles this fiscal.

"We have already sold more than 500 vehicles and will touch 1,000 this fiscal. The plan is to sell 4,000 vehicles next year, about half of which will be exported," said Maini.

Reva also plans to strengthen its distribution network. The company has exclusive showrooms in Delhi and Bangalore and sales outlets in cities like Pune and Hyderabad.

"We have tied up with Reliance Digital to sell through their network and plan to enter another 15 major cities by the year-end. Abroad, we will be going to 10 new markets in countries like France and Chile," he added.

Reva is also planning to bring out solar powered electrical vehicles. "We already have such vehicles, the roofs have solar panels on them. We continue to work on innovative technology to bring out wider range of models for varied consumer segments," said Maini.