RattanIndia Enterprises completes acquisition of e-bike maker Revolt Motors
RattanIndia Enterprises Limited has completed the acquisition of electric motorcycle maker Revolt Motors, the company announced in a regulatory filing. Revolt Motors, started by Rahul Sharma, co-founder of Micromax mobiles, is the largest electric bike maker in the country. It has over 30 dealerships and a manufacturing facility in Manesar, Haryana.
RattanIndia Enterprises now holds a 100 per cent shareholding in Revolt Motors and said that it aims to significantly scale up the two-wheeler company’s growth in the coming years. The manufacturer currently retails the RV400 electric motorcycle, which comes with AI technology and over-the-air updates as well. Revolt says its electric motorcycles have completed over 20 crore kilometres on Indian roads.
Speaking on the completion of the transaction, Anjali Rattan, Business Chairperson, RattanIndia Enterprises, said, “The country needs environmentally sustainable mobility solutions and Revolt will surely be a leader in this transformation. We are very excited and fully geared up to make Revolt the largest EV motorcycle company in the country."
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The Revolt RV400 promises a significantly lower cost of ownership over comparable petrol-powered commuter motorcycles. It comes with a 3.24 kWh lithium-ion battery that offers a range of 150 km on a single charge and a top speed of 85 kmph. The battery can be fully charged in four hours.
The RV400 was launched in 2019 and has had the first mover advantage in the electric motorcycle segment. The electric motorcycle is yet to get a comprehensive update since its arrival. With the acquisition in place, RattanIndia says it aims to build an ecosystem that’s environment-friendly, sustainable and helps speed-up adoption of electric vehicles in the country.