Having acquired a acquires substantial strategic stake in Revolt Intellicorp lets RattanIndia mark its entry in the EV space
RattanIndia Enterprises has announced its electric vehicle market entry through an association with Revolt Intellicorp. The arrangement saw RattanIndia acquire a substantial strategic stake in Revolt Intellicorp Pvt Ltd. This will see the company hold 50 percent board presence in Revolt. And Rajiv Rattan will be chairman of the board of Revolt.
Revolt is working in a niche market in India. For starters when most manufacturers chose to introduce electric scooters, Revolt marked its market entry with electric motorcycles. At the time of launch, the new auto manufacturer found no competition. And while the arena was a new one, Revolt has relied on tech to get forward in a space that’s going to see much movement in the years to come.
Revolt RV300 and RV400
With a goldmine of data to depend on, Revolt Intellicorp will now leverage its position in the newly minted collab to expand its footprint in India. It depends on next-gen mobility solutions steeped in tech. This helped with its maiden launch, the first AI-enabled motorcycle. For RattanIndia Enterprises, this is a first of its kind investment in a new age manufacturing business.
The fresh capital infusion will be earmarked for distributor and service network expansion across 35 cities. Using AI, the company looks forward to creating a world-class contactless experience for customers. The investment furthers Revolt’s quest to support innovation and tech in clean next-gen mobility solutions in the area of daily commute.
This with the aim of being affordable and accessible. Revolt currently sells RV300 for about 95k through a one time payment plan, and RV400 for Rs 1.19 lakhs.
For those choosing a monthly payment plan, total payment works out to a bit more. For RattanIndia though this is a first of its kind investment, the company will continue to invest money in such new age businesses.
Revolt expansion to 35 cities
While FY21 has been a difficult period, Revolt Intellicorp was able to expand its presence to 6 cities across India. The new partnerships is in line with the company’s vision to offer eco-friendly transportation solutions. And at the same time help expand the manufacturer’s market outreach to far more cities.
Rajiv Rattan, Founder and Chairman of RattanIndia Group, said, “We are very excited to join hands with Revolt Intellicorp and be a part of the electric mobility shift which is undoubtedly poised to be at the forefront of India’s next green revolution. We firmly believe that speed of adoption of EVs’ in the country will be beyond anybody’s imagination.”
Source: Bike - rushlane.com
