Motovolt Acquired Stakes in eROCKIT : A German Electric 2 Wheeler OEM
News Desk, News Nation 360 : Motovolt, one of India’s leading e-mobility brands, has become the first Indian EV startup to have undertaken a strategic M&A with a German electric 2-wheeler OEM, eROCKIT AG. This marks Motovolt’s first step towards expanding its footprint globally for the sales and distribution of its electric mobility solutions. The initial investment of one million Euros is aimed at strengthening the product development and production of eROCKIT’s premium models at their manufacturing site in Berlin, Germany. The deal is also a push towards Indo-German trade and collaboration in the EV sector. Speaking about this, Tushar Choudhary, Founder & CEO, of Motovolt, said that the deal with eROCKIT is going to make a major impact on the Indian markets and transform the 2-wheeler segment. They aim to benefit from eROCKIT’s know-how to develop relevant product solutions for Indian consumers. For instance, Motovolt intends to redefine motorcycle as a category in India by significantly boosting user experience through the usage of eROCKIT’s technology platform such as their futuristic drivetrains and the excellence of German engineering. They will also be focusing on extensively manufacturing eROCKIT’s products domestically under the ‘Make in India’ initiative and setting up a global footprint for the sales and distribution of their products globally. This alliance is a major accomplishment in their journey towards building a strong and reliable international brand with very high growth potential. The Indian EV market is growing rapidly and over a million vehicles across all categories were sold last year. As a pioneer in the sector, Motovolt’s emphasis has been on plugging the affordable micro-mobility segment in the country. Through this strategic alliance, Motovolt also aims to leverage eROCKIT’s tech stack to enhance the entire range of Motovolt products. Motovolt aims to invest around 10 million Euros for the industrialisation of eROCKIT products.
Report : Anustup Kundu