RattanIndia acquires 100% stake in EV bike maker Revolt Motors

RattanIndia Enterprises has acquired a 100 per cent stake in the electric two-wheeler player Revolt Motors. The company had earlier acquired 33.84 per cent of the EV start-up with an option to increase the shareholding.

The larger goal of this acquisition is to build an ecosystem that is sustainable, eco friendly, and helps in speeding up adoption of EVs in the country.

In 1995, RattanIndia is the flagship company of the Indian energy company RattanIndia Group. Revolt Motors is a Manesar-based electric vehicle company founded by Indian entrepreneur Rahul Sharma in the year 2019.

Anjali Rattan, Business Chairperson of RattanIndia said that Revolt is currently the best EV bike in the world. It is a world class in all aspects of its technology, cost, build quality and performance. We are doubling down on our belief that the EV revolution in the country is coming faster than anticipated due to the acquisition of 100% shareholding in Revolt Motors. The sector is projected to grow at a CAGR of 28.93 per cent between 2022 and 2027, according to a report by Mordor Intelligence. The growing growth in this segment is due to the escalating year-on-year adoption rate of mild-hybrid electric vehicles, favored electric vehicle policies and improved government initiatives across India. Electric vehicle demand was less affected during the COVID- 19 epidemic, compared to other segments, according to the report.

At present, Revolt's AI-enabled RV 400 bikes run on 3.24 kWh lithium-ion batteries. They are present in 25 cities in India.