RattanIndia backed Revolt Motors expands presence in Gujarat; stock up ~1%

10 Jun 2022 , 03:16 PM

Rattanindia Limited-backed Revolt Motors, India’s next gen-mobility is all set to open a new store in Rajkot. This is the company’s third store in Gujarat and the 26th store across the country.

The company has already set foot across states like Kerala & Bihar in May, Revolt Motors is all set to enter in the city of Rajkot. With this, the company strives to strengthen its presence across the nation & establish 40+ stores this year.

The State government’s new electric vehicles policy has fuelled optimism among EV makers and sellers in Gujarat. Under the new policy, the govt. has announced a subsidy of up to Rs20,000 on the two-wheeler category which not only makes the product more affordable but also helps in increasing the adoption of electric vehicles in the state.

Policies such as the FAME India scheme and Niti Aayog’s ‘Battery Swapping’ policy have also contributed to gaining momentum towards sustainability and adaptability to environment-friendly vehicles.

RattanIndia Enterprise is currently trading 1.19% higher at Rs46.65 against its previous close of Rs46.10 on BSE.