RattanIndia a company with a 43 percent stake in Revolt motors has announced that the company is planning to announce a new motorcycle called the RV1 which is going to be priced cheaper than the current RV300 and is also going to replace the latter. The RV1 is going to be a 100% made in India product.
“We have been importing parts from China but we are now focusing on every single supply from India. The production of the new model will commence from early next year and it will be a 100 percent indigenized e-bike,” said Anjali Rattan promoter of Rattan India Enterprises Ltd (REL). She also confirmed, ""We will be phasing out RV 300 model eventually. In its place, we will be introducing a new model, RV1, at a lower price, which would be a new model altogether.”
The company is planning to increase production to 5 lakh bikes per annum in the next 5 years. The RV400 is currently priced Rs 90,799 due to the Fame 2 subsidy and the RV1 is expect to be priced at around 75,000-80,000 Rs. The launch shall take place sometime next year.
Meanwhile Domino's Pizza India has said that it will acquire its entire inventory of Revolt RV300 electric bikes for its fleet and become a delivery company with an all-EV fleet.
Anjali Rattan said, "Revolt is happy to join hands with Domino's in this partnership which not only makes sense environmentally, but also offers great cost savings for the company."
RattanIndia Enterprises acquired a stake in Revolt Motors, will invest to expand the network of service centres and dealers across 35 cities. Funds for this investment were secured after RattanIndia Group sold off its entire solar portfolio is reinvesting some of the money into the EV space. So more larger players in the solar field are entering the EV space.
Also it is good to see Revolt investing in make in India. This also will reduce the stock issues.