RattanIndia Enterprises enters into EV space; stock climbs nearly 5 per cent

RattanIndia Enterprises Ltd informed the exchanges on Thursday that it is venturing into the electric vehicle (EV) space by acquiring a substantial strategic stake in Revolt Intellicorp Private Limited. 

Promoted by Rahul Sharma, Co-founder of Micromax, Revolt Intellicorp is a next-gen mobility company. Revolt uses next-gen mobility solutions and has a mission to create a future of next-gen mobility with 100 per cent accessibility and no fuel residue. Revolt India has emerged as a global powerhouse, expanding its footprint to six cities across India. The company has also launched India’s first Al-enabled motorcycle.   

Commenting on the company’s first investment in a new age manufacturing business, Rajiv Rattan, Founder & Chairman of RattanIndia Group believes that the partnership between RattanIndia and Rahul Sharma will lead to creating the number one EV company of India.  

At the time of market closing on Thursday, the shares of RattanIndia Enterprises were trading at Rs 10.15, up by 4.96 per cent or Rs 0.48 per share, against a 0.15 per cent gain in the benchmark index.