Massive jump in RattanIndia's Revolt electric bikes sales - closed within minutes

RattanIndia's Revolt Motors, India's market leader in EV bikes witnessed another round of massive electrifying sales with its electric bikes sold out within minutes of opening online sales. Previously Revolt had opened sales on 18 June with the company having to close the booking in 2 hours. This time the bookings were closed out within minutes of launching sales on Revolt website. These sales come in backdrop of petrol prices reaching more than Rs. 100 in the country. With running cost of Revolt electric bikes being Rs. 9 per 100 kms compared to petrol bikes which cost Rs. 250 per 100 kms, the cost saving for Revolt customers is hard to miss.

These sales were for its state of the art Al enabled RV400 bikes, which beats comparable petrol engine bikes on almost all comparables. The RV400 has a range of upto 150 Kms on a single charge of its 3.24Kwh Lithium-lon battery that can churn out a top speed of 85km/h. The bike can be operated through MyRevolt App, which offers connectivity features such as bike locator/Geo fencing, customised sounds that you can change with just a tap on the screen, complete bike diagnostics, battery status, historical data on your rides and KMs done. These bikes feature three riding modes - Eco, Normal and Sport - each suiting to the riding style and needs of the driver. Both RV400 and RV300 come with USD forks up-front and a fully-adjustable monoshock at the rear to give an unparalleled riding experience.

With falling battery prices, EV bikes prices are already comparable to their petrol counterparts. In addition various state governments are giving significant incentives to customers buying electric bikes. For example Maharashtra is giving incentives of more than Rs. 25,000 per bike, Gujarat Govt. gives incentives of Rs. 20,000 per bike, Delhi Government gives direct incentive of about Rs. 16,200 per bike for Revolt customers. Similarly, Meghalaya has incentive of Rs. 32,000 per bike for Revolt and Bihar has also proposed a similar amount as incentive. In addition states of Telangana, Tamil Nadu and Delhi have also waived off the road tax for EV two wheelers.

Anjali Rattan, Business Chairman, Rattanindia Enterprises said "Revolt bikes being sold out within minutes is strong testimony of the product quality of Revolt. With petrol prices reaching upwards of Rs. 100 in the country, it is hard for customers to miss huge savings that Revolt bikes bring."

Rahul Sharma, MD of Revolt Motors said, "Another round of blockbuster sales by Revolt clearly shows that Indian customers are quick to adopt superior products. We are working round the clock to increase our production capacities even further to cater to this huge demand."

Shares of RattanIndia Enterprises Limited was last trading in BSE at Rs.50.3 as compared to the previous close of Rs. 47.95. The total number of shares traded during the day was 1063027 in over 2428 trades.

The stock hit an intraday high of Rs. 50.3 and intraday low of 48.1. The net turnover during the day was Rs. 53334564.

Source : Equity Bulls

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