RattanIndia Enterprises, a flagship company of RattanIndia Group announced 100% acquisition of EV manufacturer Revolt Motors.
Revolt Motors manufactures two types of sustainable mobility vehicles: the RV 400 and the RV 300. Its manufacturing plant is located in Manesar, Haryana. Revolt will become a wholly-owned subsidiary of RattanIndia Enterprises following the acquisition, and the latter intends to significantly scale up Revolt’s growth. Revolt claims that its EV bikes have travelled more than 20 million kilometres on Indian roads and are powered by 3.24kWh lithium-ion batteries with 0% fuel residue. According to a Mordor Intelligence report, the country’s electric vehicle market is expected to be worth $1,434 billion by 2021. The industry is expected to grow at a CAGR of 47.09% to $15,397 billion by 2027.
