RattanIndia Enterprises, the flagship company of the RattanIndia Group, announced that it had completed a 100% acquisition of electric vehicle manufacturer Revolt Motors.

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 Motors, founded in 2017 by Micromax founder Rahul Sharma, manufactures sustainable mobility vehicles, the RV 400 and RV 300. Its manufacturing plant is located in Manesar, Haryana.

Revolt announced that it had expanded its footprint to include 30 dealerships across the country.

“The country needs environmentally sustainable mobility solutions, and Revolt will surely be a leader in this transformation. We are very excited and fully geared up to make Revolt the largest EV motorcycle company in the country,” said Anjali Rattan, business chairperson RattanIndia Enterprises Ltd.

Revolt Motors also explained the mechanism of electric vehicles, saying that its AI-enabled EV bikes capture millions of data points every second over the air to improve the driving experience.

Revolt claims that its EV bikes have traveled more than 20 million kilometers on Indian roads and are powered by 3.24kWh lithium-ion batteries with 0% fuel residue.

According to the startup, its EV bikes have a top speed of 85 km/h and can travel 150 km on a single four-hour charge.

Revolt received INR 150 Cr from RattanIndia Enterprises in 2021 in exchange for a 43% stake in the startup.

Its competitors in India include Ultraviolette, Tork, Oben, and Odysse, among others.

According to a Mordor Intelligence report, the country’s electric car market is expected to be worth $1,434 billion by 2021. The market is expected to increase at a CAGR of 47.09% to $15,397 billion by 2027.