Panache Digilife skyrockets ~10% on collaboration with Revamp Moto

31 Oct 2022 , 09:38 AM

Panache Digilife Limited informed it has recently signed an agreement with Revamp Moto Private Limited for its Modular Electric Vehicles (EV).

Revamp Moto is a Nashik-based start-up developing exceptionally reliable, adaptable, and connected Electric Vehicles based on its Modular Utility Platforms with the goal of hastening the transition to a zero-emission society.

With this collaboration, each party will concentrate on developing their own strengths, with Revamp Moto focusing on new product development (NPD), research and development (R&D), new technologies, and intellectual property (IP). This allows Panache to concentrate on quality product assembly, process optimization, and component indigenisation as it enters the Indian EV market.

This collaboration will allow Revamp and Panache to focus on their respective domains to indigenize EV manufacturing and assembly, which will bring greater transparency and significantly speed up the process.

Panache is a pioneer in new-age AI and IoT technology solutions, with a mission to align and implement the Government of India’s ‘Make in India’ and ‘Atmanirbhar’ policies in the ICT and IoT Electronics domain.

At around 9.44 AM, Panache Digilife was trading 9.95% higher at Rs81.25, against previous close of Rs73.90 on NSE. The counter hit intraday high and low of Rs81.25 and Rs77.40 respectively so far in today’s trade.

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