RattanIndia Enterprises acquired 100% stakes in electric vehicle manufacturer startup Revolt Motors

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RattanIndia Enterprises, a flagship company of RattanIndia Group, acquired 100% stakes in electric vehicle manufacturer startup Revolt Motors for an undisclosed amount.

Revolt creates sustainable mobility vehicles such as the RV 400 and RV 300 AI-enabled electric bikes. It also runs Revolt Switch Station battery-swapping stations across India. RattanIndia had previously purchased 33.84% of Revolt, with the option of increasing its stake in the startup, according to the company. Furthermore, the centre’s think tank, NITI Aayog, estimated this year that electric two-wheelers would have reached 100% penetration in the country by the fiscal year 2027. Meanwhile, according to another report, the Indian EV market will grow at a CAGR of 94.4% between 2021 and 2030.

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RattanIndia Enterprises acquired 100% stakes in electric vehicle manufacturer startup Revolt Motors

RattanIndia Enterprises, a flagship company of RattanIndia Group, acquired 100% stakes in electric vehicle manufacturer startup Revolt Motors for an undisclosed amount.

Revolt creates sustainable mobility vehicles such as the RV 400 and RV 300 AI-enabled electric bikes. It also runs Revolt Switch Station battery-swapping stations across India. RattanIndia had previously purchased 33.84% of Revolt, with the option of increasing its stake in the startup, according to the company. Furthermore, the centre’s think tank, NITI Aayog, estimated this year that electric two-wheelers would have reached 100% penetration in the country by the fiscal year 2027. Meanwhile, according to another report, the Indian EV market will grow at a CAGR of 94.4% between 2021 and 2030.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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