RattanIndia backed Revolt closes EV bikes booking due to high demand

RattanIndia Enterprises Ltd. ("RattanIndia") backed Revolt Intellicorp Pvt Ltd ("Revolt") today announced that it is completely overbooked for new bookings within few days of getting investment from RattanIndia. Revolt has paused taking any fresh bookings on its website post receiving an overwhelming response from the consumers. The company is first catering to the confirmed orders received in large numbers from the six cities, where it has a presence. Revolt will reopen the bookings after meeting the current set of orders in hand. Revolt currently has production lines currently in the auto hub of Manesar in Haryana.

Revolt comes in two variants: RV 300 and RV 400 having a range of 150 Kms on a single charge, top speed of 100 kms/hr and full battery charge time of 4 hours. The 3.24 kWh battery has a warranty of 1,50,000 Kms which is highest for any EV two wheeler in the country.

RattanIndia had recently forayed in EV space through investment in Revolt. Revolt bikes, currently on road, have clocked 18 million kms already and company has witnessed surge in demand for its bikes since reopening of bookings for new customers.

Rajiv Rattan, Chairman, RattanIndia & Revolt, said, "We are thrilled to see the overwhelming response for Revolt bikes. It just reinforces our belief that there is a great demand for superior EV bikes in the country and Revolt is well placed to fulfil this rapid shift towards EV mobility."

Commenting on the customer response, Rahul Sharma, Managing Director, Revolt, and Cofounder - Micromax, said, "At Revolt Motors, we are determined to provide better and safer e-mobility solutions to our customers. We are overwhelmed with the response we have received from our customers across the 6 cities. We are currently overbooked and are committed to catering to the confirmed orders first. While we are extremely thrilled with the response, we are working hard to ramp up our production capacity."

Shares of RattanIndia Enterprises Limited was last trading in BSE at Rs.11.56 as compared to the previous close of Rs. 11.73. The total number of shares traded during the day was 5181469 in over 3990 trades.

The stock hit an intraday high of Rs. 12.24 and intraday low of 11.15. The net turnover during the day was Rs. 59844853.

Source : Equity Bulls

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