SUMMARY
Following the acquisition, Revolt will be a wholly-owned subsidiary of RattanIndia Enterprises
RattanIndia plans to significantly scale up Revolt’s growth
Revolt Motors claims that its EV bikes have completed more than 20 Cr kms on Indian roads, and run on 3.24kWh lithium-ion batteries with 0% fuel residue
RattanIndia Enterprises, a flagship company of RattanIndia Group, on Saturday announced that it has completed 100% acquisition of EV manufacturer Revolt Motors.
Following the acquisition, Revolt will be a wholly-owned subsidiary of RattanIndia Enterprises and the latter plans to significantly scale up Revolt’s growth.
Set up in 2017 by Micromax founder Rahul Sharma, Revolt Motors builds sustainable mobility vehicles–RV 400 and RV 300. It has a manufacturing facility in Manesar, Haryana.
Revolt shared that it has expanded its footprint with 30 dealerships spread across the country.
“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,” said Anjali Rattan, business chairperson, RattanIndia Enterprises Ltd.
Explaining the mechanism of electric vehicles, Revolt Motors said that its AI-enabled EV bikes capture millions of data points every second over-the-air to enhance the driving experience.
Revolt claims that its EV bikes have completed more than 20 Cr kms on Indian roads, and run on 3.24kWh lithium-ion batteries with 0% fuel residue.
Its EV bikes give a top speed of 85 km per hour and can cover a distance of 150 kms on a single charge of four hours, said the startup.
In 2021, Revolt bagged INR 150 Cr from RattanIndia Enterprises for an exchange of 43% stake in the startup.
In India, it faces competition from the likes of Ultraviolette, Tork, Oben and Odysse, among others.
As per a Mordor Intelligence report, the country’s electric vehicle market was pegged at $1,434 Bn in 2021. The industry is projected to grow at a CAGR of 47.09% to become $15,397 Bn space by 2027.
It is important to note that the EV sector is one of the growing sectors of India currently. Basking on the growth rides, we have seen multiple funding deals happening in this segment.
Yulu securing $82 Mn, Exponent Energy raising $13 Mn and Ather Energy bagging $128 Mn are some of the fundraising activities that occurred in the EV sector in the previous year. Recently, Entuple E-Mobility secured $3 Mn from Blue Ashva Capital and Capital A.
