RattanIndia Enterprises to acquire 100% stake in e-motorcycle company 'Revolt Motors'

7 Oct 2022 , 01:03 PM

RattanIndia Enterprises Limited stocks rally on Friday’s afternoon session after announcing acquisition of 100% shareholding in the electric motorcycles market leader Revolt Motors. The Company had earlier acquired 33.84% shareholding in Revolt with an option to further increase the shareholding.

Revolt Motors is the highest selling electric motorcycles in the country and Revolters have clocked in more than 100 million kms on Indian road till date. Revolt Motors is state of the art, next gen AI-enabled electric motorcycle which captures millions of data points per second to deliver great driving experience to the riders.

Revolt Motors currently has manufacturing facility in the auto manufacturing hub of Manesar, Haryana. Over the last one year, Revolt Motors has expanded its pan India footprint with 29 dealership stores spread across various cities in India.

With an aim to create a future of AI enabled next-gen green mobility, the eco-friendly Revolt bikes run on 3.24kWh lithium ion batteries with 0% fuel residue.

Further, Indian Government has given Faster Adoption and Manufacturing of Electric Vehicles in India II (FAME II) scheme with an outlay of Rs. 10,000 Crore to provide upfront subsidies to EV manufacturers. Several state governments also have policies and incentives to hasten EV adoption in their states.

At around 1:06 PM, RattanIndia Enterprises was trading at Rs54.05 per share higher by 8.53% as against previous closing of Rs49.80 per share on the BSE. The scrip opened at Rs51.35 per share today.

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