RattanIndia Enterprises Forays into EV Space; Acquires Substantial Stake in Revolt Intellicorp

With an aim to be a part of the electric mobility shift in India, RattanIndia Enterprises Ltd (REL) has ventured into the electric vehicle (EV) space by acquiring a substantial strategic stake in next-gen mobility company Revolt Intellicorp for about Rs 150 crore.

Micromax co-founder Rahul Sharma promoted Revolt Intellicorp is a next-gen mobility company manufacturing AI enabled EVs.

Gurugram-headquartered Revolt has introduced India’s first Al-enabled motorcycle without compromising on the performance or aesthetics of a regular ride.

As part of the deal, RattanIndia Enterprises will have 50 per cent board presence in Revolt Intellicorp and Rajiv Rattan will be chairman of the board of Revolt. After setting a benchmark across the country disrupting the two-wheeler market with a range of electric motorcycles, clocking 18 Mn kms on road and processing 329 Mn data records till date, Revolt Intellicorp will leverage this collaboration to expand its footprint pan India.

This deal happens to be RattanIndia Enterprises first investment in a new age manufacturing business.

Commenting on the investment, 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 have built big businesses in the past and are committed to ensuring a roaring success for this business as well. We firmly believe that speed of adoption of EVs’ in the country will be beyond anybody’s imagination. We also have firm faith in Rahul Sharma who is a proven leader having disrupted the smartphone segment over the last decade and catapulted Micromax to being the number one Indian mobile company. We are confident that this partnership between RattanIndia and Rahul Sharma will lead to creating the number one EV company of India. At Rattanindia Enterprises, we will continue to invest in high growth tech enabled new age businesses.”

Revolt will be deploying the fresh capital to expand the distributor and service network a pan India across 35 cities.

In addition to this, the company will be leveraging Al, to upscale and provide a 100% in-house developed — Made in India, world-class contactless experience for its customers.

Speaking about the deal, Rahul Sharma, Founder, Revolt Intellicorp, said, “at Revolt Intellicorp, we are determined at providing better and safer e-mobility solutions to our customers. Despite challenges brought by the pandemic, Revolt India has emerged as a global powerhouse expanding its footprint to 6 cities across India. Our partnership with RattanIndia Enterprise Ltd, complements our vision to offer eco-friendly transportation solutions as well as look forward to expanding our reach to a larger base of customers across top 35 Indian cities.”