RattanIndia Enterprises Limited has completed acquisition of 100% shareholding in the electric motorcycles market leader Revolt Motors. Henceforth, Revolt Motors will be 100% wholly owned subsidiary of NSE/BSE listed RattanIndia Enterprises Ltd.
Revolt Motors is the highest selling electric bike in the country with its manufacturing facility in Manesar, Haryana. Revolt Motors has expanded its footprint pan-India with 30 dealerships spread across the country. With this 100% acquisition of Revolt Motors, RattanIndia Enterprises seeks to significantly scale up Revolt's growth and make it the largest EV two wheeler company in the country.
Revolt Motors flagship model RV400 has been witnessing a robust demand and is by far the most technologically advanced bike in the world. These AI-enabled electric motorcycles capture millions of data points per second over-the-air to deliver great driving experience to the riders. Revolt bikes also known for their superior build quality have already completed over 20 crore kms on Indian roads.
India is predominantly a two-wheeler country with motorcycles leading the way. Cost conscious Indian bike customers see value in Revolt bikes which offer a huge cost advantage vis-à-vis petrol bikes with running cost being 1/10th of a petrol bike.
On completion of transaction, Mrs. Anjali Rattan, Business Chairperson, RattanIndia Enterprises Ltd. said, "The country needs environmentally sustainable mobility solutions and Revolt will surely be a leader in this transformation. We are very excited and fully geared up to make Revolt the largest EV motorcycle company in the country."
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 transformation 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.
Shares of RattanIndia Enterprises Limited was last trading in BSE at Rs. 42.55 as compared to the previous close of Rs. 41.80. The total number of shares traded during the day was 134464 in over 1237 trades.
The stock hit an intraday high of Rs. 42.85 and intraday low of 41.50. The net turnover during the day was Rs. 5686094.00.