RattanIndia Acquires 100% Stake in Electric Bike Manufacturer Revolt

Thermal power producing plant developer RattanIndia Enterprises Ltd announced that it is purchasing the remaining shares (owner of 100% stake) of electric motorcycle, bike manufacturer Revolt Motors at a time when environmentally conscious consumers are looking for alternatives to conventional vehicles. RattanIndia did not specify the size of the deal, although its shares rose 10% in morning trading.

The agreement is the most recent in the Indian electric vehicle (EV) market after startups Euler Motors and Yulu recently secured investments totaling several million dollars, while Mahindra & Mahindra and Tata Motors, two of the country’s largest automakers, increased their EV initiatives.

Global EV sales are soaring, and according to consultant AlixPartners, they will increase from fewer than 8% of total global sales in 2017 to 33% by 2028. Revolt is the most popular electric motorcycle in the nation, according to RattanIndia, which already holds a 33.84% interest in the company. Bikers have already traveled more than 100 million kilometers on Indian roadways.

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With 29 dealership locations across India, and the largest two-wheeler market in the world, Revolt Motors has a production unit there.

“The world’s best EV bike right now is by far Revolt. It is true of the highest caliber in terms of technology, price, build quality, and performance. By acquiring a 100% stake in Revolt Motors, we are reinforcing our conviction that the country’s EV revolution is approaching more quickly than we predict “said Anjali Rattan, chair of RattanIndia Enterprises.

“Without a doubt, doing what is right for the environment and the nation also benefits business. When they perceive value, Indians are extremely attentive buyers. We are prepared for Revolt Motors’ upcoming expansion phase “Added she.

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Earlier, RattanIndia Group sold its solar plants and assets with a combined capacity of 306 MW to Global Infrastructure Partners (GIP) for around Rs 1,670 crore. additionally,