BikeWo Signs MoU to Acquire 51% Stake in PositiEV Mobility

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BikeWo Green Tech Limited has signed a Memorandum of Understanding with PositiEV Mobility Private Limited for a proposed transaction. Under this, BikeWo intends to acquire a 51% stake in PositiEV Mobility, subject to due diligence, valuation, definitive agreements, and regulatory approvals.

The MoU states that after completion of the transaction, Hiten Pal Saklani will be appointed Chief Executive Officer of BikeWo, subject to board approval and execution of agreements.

The transaction is aimed at combining both companies’ operations in EV retail, leasing, financing, charging infrastructure, battery swapping, fleet management, and after-sales services to build an integrated EV mobility platform in India.

Hiten Pal Saklani, Founder & CEO, PositiEV Mobility, said, “India’s EV transition is entering a defining phase where success will depend not only on vehicles but on the ecosystem that supports them. Financing, charging infrastructure, dealership sustainability, fleet management and after-sales service must work together to make electric mobility truly scalable. The signing of this MoU reflects the shared vision of BikeWo and PositiEV Mobility to build an integrated EV mobility ecosystem. We look forward to working closely with BikeWo to build an integrated platform that empowers manufacturers, dealers, fleet operators, financial institutions and customers, while accelerating India’s transition towards clean and sustainable mobility.”

Manideep Katepalli, Chairman & Managing Director, BikeWo Green Tech Limited, said, “This MoU marks an important step in BikeWo’s long-term growth strategy. PositiEV Mobility has built strong capabilities across EV distribution, leasing and mobility infrastructure, making it an excellent strategic fit with BikeWo’s vision. We look forward to working closely with the PositiEV team as we progress through due diligence and the necessary approvals. We believe this partnership has the potential to create one of India’s most integrated EV mobility platforms. Hiten’s deep understanding of the EV ecosystem, combined with his entrepreneurial experience and execution capabilities, makes him the ideal leader to drive BikeWo’s next phase of growth. Together, we are committed to building an integrated mobility platform that accelerates EV adoption and creates long-term value for the entire ecosystem.”

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