Article from: RattanIndia Enterprises Ltd
RattanIndia Enterprises is venturing into the EV space by acquiring a substantial strategic stake in Revolt Intellicorp.
RattanIndia Enterprises Ltd is venturing into the field of electric vehicles (EVs) by acquiring a substantial strategic stake in next-generation mobility company Revolt Intellicorp Pvt Ltd.
Revolt works with a vision of democratizing clean journeys by using new generation mobility solutions and a mission to create a future of next generation mobility with 100% accessibility and 0% fuel residue. With technology at its roots and class products of its own, Revolt introduced India’s first Al-compatible motorcycle without compromising on performance or the aesthetics of a steady ride.
As part of the deal, RattanIndia Enterprises will have a 50% presence on the board of directors of Revolt Intellicorp and Rajiv Rattan will be chairman of the board of directors of Revolt. After setting a benchmark across the country by disrupting the two-wheeler market with a range of electric motorcycles, driving 18 million kilometers on the road and processing 329 million data records to date, Revolt Intellicorp will leverage of this collaboration to extend its footprint in India.
This agreement is RattanIndia Enterprises’ first investment in a new era manufacturing company.
“We are very excited to join Revolt Intellicorp and be part of the shift in electric mobility which is undoubtedly poised to be at the forefront of India’s next green revolution. We have built great companies in the past and we are also committed to ensuring a resounding success for this company. We firmly believe that the speed of adoption of electric vehicles in the country will be beyond anyone’s imagination. We also have a business
Trust in Rahul Sharma who is a proven leader having disrupted the smartphone segment over the past decade and propelled Micromax to the number one rank of mobile companies in India. We are convinced that this partnership between RattanIndia and Rahul Sharma will lead to the creation of the first electric vehicle company in India. At Rattanindia Enterprises, we will continue to invest in the new era of high technological growth
companies, ”said Rattan, Founder and Chairman of the RattanIndia Group.
Revolt will deploy the new capital to expand the distribution and service network across India across 35 cities. In addition to this, the company will rely on Al to improve and provide its customers with a world-class contactless experience, 100% in-house developed, Made in India.
Speaking about the deal, Sharma, Founder of Revolt Intellicorp, said: “At Revolt Intellicorp, we are committed to providing better and safer electric mobility solutions to our customers. Despite the challenges posed by the pandemic, Revolt India has grown into a global power expanding its footprint to six cities across India. Our partnership with RattanIndia Enterprise complements our vision to offer environmentally friendly transportation solutions and we look forward to expanding our reach to a larger customer base in 35 major Indian cities. “