Rattanindia Enterprises says Revolt Motors opens new store in Rajkot, Gujarat

This is the third store in Gujarat and the 26th store across the country.

After expanding its presence across states like Kerala and Bihar in May, Rattanindia-backed Revolt Motors is all set to enter in the city of Rajkot. With this, the company aims to strengthen its presence across the nation & open 40+ stores this year.

The state government's new electric vehicles policy has fuelled optimism among EV makers and sellers in Gujarat. Under this new policy, the government provides a subsidy of up to Rs 20,000 on two-wheeler category which not only makes the product more affordable but also helps in increasing the adoption of electric vehicles in the state.

The government has also exempted e-vehicles registered in Gujarat RTOs from paying registration fee and extended support for charging infrastructure which will accelerate the ecosystem development and ensure greater comfort for EV buyers.

As per the exchange filing, all the new stores will be set up by retail partners across the key cities. Buoyed by the surge in demand for Revolt motorcycles, the new stores will focus on India-centric, flexible and cost-effective innovations that will drive the growth of electric mobility, in-line with making India self-reliant. The stores will not only act as sales points for the company, but also be able to experience the EV ecosystem. In addition to this, the company is also leveraging Al, to upscale and provide an in-house developed contactless experience for its customers.

Revolt Motors' RV400 bike comes with a 3KW (Mid Drive) motor, powered by a 72V, 3.24KWh Lithium-lon battery that can churn out a top speed of 85km/h. It also has the option of locating the nearest Revolt Switch Station to swap Revolt's battery at and be on-the-move in less than 60 seconds.

RattanIndia Enterprises is the flagship company of Rattanindia Group for its new age growth businesses. The company has forayed into electric mobility space through Revolt Motors to democratize clean commute using next-gen mobility solutions. The company is completely focused on providing world class electric mobility products which are affordable and accessible to every Indian.

On a consolidated basis, RattanIndia Enterprises' net profit stood at Rs 564.68 crore in Q4 FY22 as compared to a net loss of Rs 0.22 crore in Q4 FY21. Net sales was at Rs 11.79 crore in Q4 FY22 as against Rs 0.10 crore recorded in Q4 FY21.

Shares of RattanIndia Enterprises rose 0.76% to Rs 46.45 on the BSE.

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