RattanIndia Enterprises to take full ownership of Revolt Motors
RattanIndia Enterprises said that it will take full ownership of Indian electric motorcycles manufacturer Revolt Motors by acquiring the remaining stake of around 66% it previously didn’t own.
The financial terms of the deal were not disclosed by RattanIndia Enterprises.
The Indian conglomerate acquired a stake of 33.84% in the electric motorcycles manufacturer in 2021 in a move to foray into the electric vehicles business.
Anjali Rattan — RattanIndia Enterprises Business Chairperson 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.”
RattanIndia Enterprises to take full ownership of Indian electric motorcycles manufacturer Revolt Motors. Photo courtesy of RattanIndia Enterprises Limited.
Currently, Revolt Motors has a manufacturing facility in Manesar, Haryana. Over the last 12 months, Revolt Motors is said to have grown its pan India presence with 29 dealership stores spread across different cities.
Rahul Sharma — Revolt Motors MD 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.”