Latest News | RattanIndia Enterprises Acquires EV Maker Revolt Motors
Get latest articles and stories on Latest News at LatestLY. RattanIndia Enterprises Ltd on Saturday said it has completed the acquisition of Revolt Motors which is into manufacturing of electric vehicles.
New Delhi, Jan 14 (PTI) RattanIndia Enterprises Ltd on Saturday said it has completed the acquisition of Revolt Motors which is into manufacturing of electric vehicles.
Now Revolt Motors has become a 100 per cent subsidiary of RattanIndia Enterprises Ltd, the company said in a statement.
"RattanIndia Enterprises Limited has completed acquisition of 100 per cent shareholding in the electric motorcycles market leader Revolt Motors," the statement said.
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.
Its flagship model RV400 has been witnessing a robust demand and is by far the most technologically advanced bike in the world, and RattanIndia Enterprises seeks to significantly scale up Revolt's growth and make it the largest EV two wheeler company in the country, RattanIndia Enterprises said.
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. Revolt bikes run on 3.24 kWh lithium ion batteries. With top speeds of 85 km/hr, the batteries with a single charge of 4 hours have a range of 150 km."
RattanIndia Enterprises did not disclose any financial details of the deal.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)