Ronojoy Banerjee New Delhi: The electric car segment received a huge boost on Wednesday with utility major Mahindra and Mahindra (M&M) buying out a controlling stake of 55.2% in the electric car maker Reva. The company also promised to make an equity infusion of Rs 45 crore and has renamed the company Mahindra Reva Electric Vehicle Co following the joint venture. Though company officials from both sides refused to divulge investment details, analysts pegged the stake sale anywhere between Rs 275 crore and Rs 325 crore. However, the question lingers about the future of electric cars in a country like India where car penetration is still below 10 in a population of 1,000. A senior official of apex auto body Society of Indian Automobile Manufacturers Association (SIAM) said at present, there is very little scope for electric cars in India.