RattanIndia Enterprises Limited, the flagship company of RattanIndia Group is acquiring 100% shareholding in the electric motorcycles company Revolt Motors. RattanIndia had earlier acquired 33.84% shareholding in Revolt with an option to further increase the shareholding.
Revolt Motors currently has a manufacturing facility in Manesar, Haryana and 29 dealerships across the country. A company statement added that Revolt Motors is the highest-selling electric motorcycle in the country, and Revolt EV bikes have clocked in more than 100 million km on Indian roads till date.
As per Vahan, Revolt Motors sold 1,648 units of e-motorcycles in Aug 2022 and 838 units in Sep 2022. Revolt bikes run on 3.24 kWh lithium-ion batteries and can attain a top speed of 85 km/hr and provide a range of 150 km.
India is home to the largest two-wheeler market in the world, with motorcycles leading the way with a 60% market share of two-wheelers in India. Electric motorcycles offer a huge cost advantage vis-à-vis petrol bikes, with running cost being 1/10th of a petrol bike, added the official statement. Speaking on the transaction, Mrs Anjali Rattan, Business Chairperson, RattanIndia Enterprises Ltd., said, “With this acquisition of 100% shareholding in Revolt Motors, we are doubling down on our belief that EV revolution in the country is coming in faster than we anticipate. We are ready for the next growth phase for Revolt Motors.”
Rahul Sharma, MD of Revolt, said, “It is a proud moment for me as we pass on the baton for the next phase of Revolt’s growth trajectory. I am very proud of what we have created with Revolt. Revolters love their Revolts, and there is a huge demand for our bikes. I am sure the Revolt revolution has just begun.”
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