RattanIndia Enterprises - backed Revolt, a manufacturer of electric motorcycles, will expand its pan India footprint by opening up dealerships in five new cities i.e. Kolkata, Coimbatore, Madurai, Vizag and Vijayawada in the month of November 2021.
With opening of experience centres in these five new cities, RattanIndia Enterprises - backed Revolt will have 19 dealerships in 14 major cities spread across 9 states in the country. These experience centres cater to customers for sales and after sales services and spare. Revolt had opened up dealerships in 3 cities in the month of October 2021 ahead of the festive season.
Yesterday, on 1 November 2021, Revolt welcomed the Odisha Electric Vehicle Policy 2021 announced by the state. As per the policy, Odisha State Government will pay Rs 5,000 per bike as direct incentive to the Electric Vehicle (EV) bike customers in Odisha. Also, the registration charges and road tax have been waived for electric bikes registered in the state. These incentives are over and above the FAME II incentives of Rs 15,000 per KWh for EV manufacturers recently announced by the Central Government which amounts to Rs 48,000 per bike for Revolt. Combining the two incentives it would mean incentives of atleast Rs 53,000 per bike sold by Revolt in Odisha.
These incentives in Odisha come in addition to the incentives given by the Central Government. Odisha follows suit on incentives by various state governments to encourage EV adoption in their states. These incentives by the Central Government and various State Governments will encourage manufacturing and EV adoption in country. With falling battery prices, EV bikes prices are comparable to their petrol counterparts. With EV running cost of approximately Rs 9 per 100 km, these bikes have very low running cost as compared to petrol bikes.
Revolts flagship model, the RV400 comes with a 3KW (Mid Drive) motor, powered by a 72V, 3.24KWh Lithium-Ion battery can churn out a top speed of 85km/h. The bike can be operated through the MyRevolt App, which offers connectivity features such as bike locator/Geo fencing, customised sounds that you can change with just a tap on the screen, complete bike diagnostics, battery status, historical data on your rides and KMs done, and also the option of locating the nearest Revolt Switch Station to swap Revolt's battery.
Also Read
The bike features three riding modes - Eco, Normal and Sport - each suiting to the riding style and needs of the driver. RV400 comes with Upside Down (USD) forks up-front and a fully- adjustable monoshock at the rear to give an unparalleled riding experience.
On a consolidated basis, RattanIndia Enterprises reported a net loss of Rs 0.83 crore in Q1 June 2021 as compared to a net profit of Rs 0.08 crore in Q1 June 2020. Net sales stood at Rs 1 crore in Q1 FY22.
Shares of RattanIndia Enterprises advanced 2.61% to close at Rs 41.25 on BSE. 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.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
