RattanIndia Enterprises Limited announced that it is acquiring 100% shareholding in the electric motorcycles market leader Revolt Motors. The Company had earlier acquired 33.84% shareholding in Revolt with an option to further increase the shareholding.
Revolt Motors currently has manufacturing facility in the auto manufacturing hub of Manesar, Haryana. Over the last one year, Revolt Motors has expanded its pan India footprint with 29 dealership stores spread across various cities in India, the statement said.
Speaking on the transaction, Anjali Rattan, Business Chairperson, RattanIndia Enterprises Ltd. said, “Revolt is currently by far the best EV bike in the world. It is truly world class in all aspects – its technology, cost, build quality and performance. 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. I do not have any doubt that what is good for environment and the country makes for a great business. Indian’s are very keen customers when they see value. We are ready for next growth phase for Revolt Motors.”
Rahul Sharma, MD of Revolt said, “It is proud moment for me as we pass on the baton for 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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