Ratanindia Enterprises Ltd on Saturday said it has completed the acquisition of Revolt Motors. The company manufactures electric vehicles.
Post this acquisition, Revolt Motors has become a 100 percent subsidiary Ratanindia Enterprises Ltd., the company said in a statement.
Ratanindia had announced plans to acquire Revolt Motors in October last year. The company had earlier acquired 33.84% shares with an option to further increase the shareholding.
“Ratanindia Enterprises Limited has completed the acquisition of 100 per cent stake in electric motorcycle market leader Revolt Motors,” the statement said.
Revolt Motors The largest selling electric bike in the country with its manufacturing facility in Manesar, Haryana. The EV maker has expanded its presence across India with 30 dealerships spread across the country.
Ratanindia Enterprises said that its flagship model RV400 is witnessing tremendous demand and is the most technologically advanced bike ever in the world, and Ratanindia Enterprises wants to significantly accelerate the growth of Revolt and make it the country’s largest Wants to make EV two wheeler company.
Anjali Ratan, Business Chairperson, Ratanindia Enterprises Ltd. said, “The country needs environmentally sustainable mobility solutions and Revolt will definitely be at the forefront of this change. Revolt bikes run on a 3.24 kWh Lithium Ion battery. 85 km/h With a top speed of 150kms, the battery has a range of 4 hours on a single charge.”
Ratanindia Enterprises did not disclose any financial details of the deal.
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