RattanIndia Enterprises has announced it has completed the acquisition of electric vehicle maker Revolt Motors and the firm has become a 100 per cent subsidiary of RattanIndia Enterprises. However, the quantum of the deal has not been ascertained.
"RattanIndia Enterprises Limited has completed the acquisition of 100 per cent shareholding in the electric motorcycles market leader Revolt Motors," a company statement said.
According to the statement, Revolt Motors is the highest-selling electric bike in the country with its manufacturing facility in Manesar, Haryana. The EV maker has expanded its footprint pan-India with 30 dealerships spread across the country, according to RattanIndia Enterprises.
RattanIndia Enterprises in a statement said it seeks to significantly scale up Revolt's growth and make it the largest EV two-wheeler company in the country.
RattanIndia's flagship model RV400 has been witnessing a robust demand and is by far the most technologically advanced bike in the world, it said.
Anjali Rattan, Business Chairperson, RattanIndia Enterprises, said, "The country needs environmentally sustainable mobility solutions and Revolt will surely be a leader in this transformation. Revolt bikes run on 3.24 kWh lithium-ion batteries. With top speeds of 85 km per hour, the batteries with a single charge of four hours have a range of 150 km."
( With inputs from ANI )
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