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RattanIndia Enterprises Ltd to acquire 100% shareholding in electric motorcycle company Revolt Motors

Posted On : 2022-10-07 16:22:14( TIMEZONE : IST )

RattanIndia Enterprises Ltd to acquire 100% shareholding in electric motorcycle company Revolt Motors

RattanIndia Enterprises Limited has announced that it is acquiring 100% shareholding in the electric motorcycles market leader Revolt Motors. The Company had earlier acquired 33.84% shareholding in Revolt with an option to further increase the shareholding.

Revolt Motors is the highest selling electric motorcycles in the country and Revolters, as the proud owners of Revolt EV bikes love to call themselves have clocked in more than 100 million kms on Indian road till date. Revolt Motors is state of the art, next gen AI-enabled electric motorcycle which captures millions of data points per second to deliver great driving experience to the riders. Revolt Motors currently has manufacturing facility in the auto manufacturing hub of Manesar, Haryana. Over the last one year, Revolt Motors has expanded its pan India footprint with 29 dealership stores spread across various cities in India.

India is home to the largest two-wheeler market in the world with motorcycles leading the way with 60% market share of two-wheelersin India. Electric motorcycles offer a huge cost advantage vis-à-vis petrol bikes with running cost for electric motorcycle being 1/10th of a petrol bike. Electric motorcycle is devoid of an engine which makes for very less wear and tear and low maintenance. Without any engine vibrations in EVs, the ride experience is far superior as compared to a petrol engine.

Govt. of India has given Faster Adoption and Manufacturing of Electric Vehicles in India II (FAME II) scheme with an outlay of Rs. 10,000 Crore to provide upfront subsidies to EV manufacturers. Several state governments also have policies and incentives to hasten EV adoption in their states.

Speaking on the transaction, Mrs. Anjali Rattan, Business Chairperson, RattanIndia Enterprises Ltd. said, "Revolt is currently by far the best EV bike in the world. It is truly world class in all aspects - its technology, cost, build quality and performance. With this acquisition of 100% shareholding in Revolt Motors we are doubling down on our belief that EV revolution in the country is coming in faster than we anticipate. I do not have any doubt that what is good for environment and the country makes for a great business. Indian's are very keen customers when they see value. We are ready for next growth phase for Revolt Motors."

Rahul Sharma, MD of Revolt said, "It is proud moment for me as we pass on the baton for next phase of Revolt's growth trajectory. I am very proud of what we have created with Revolt. Revolters love their Revolts and there is a huge demand for our bikes. I am sure the Revolt revolution has just begun."

With an aim to create a future of AI enabled next-gen green mobility, Revolt bikes run on 3.24kWh lithium ion batteries with 0% fuel residue. The Revolt EVs are eco-friendly, green & clean and these lithium-ion batteries not only reduce emissions, but also enable an uncompromised performance with top speeds of 85 km/hr. The batteries with a single charge of 4 hours have a range of 150 Kms.

RattanIndia Enterprises Ltd. truly believes that electric mobility will define the future of automobiles in India and Revolt's commitment to drive the passion of electric motorcycling is stronger than ever before. Over the past few years, Revolt has received an overwhelming response from its customers. The Company's aim is to build an ecosystem which is environment friendly, sustainable, and helps in speeding up the adoption of EVs in the country.

Source : Equity Bulls


RattanIndiaEnterprises Acquisition ElectricMotorcycles RevoltMotors