RattanIndia Enterprises saw its shares rise by an impressive 6% as its subsidiary, Revolt Motors, posted an outstanding 197% year-on-year (YoY) growth in November 2024 sales. The company sold 1,994 units of its electric motorcycles in November 2024, a significant jump from the 671 units sold in the same month last year. This achievement marks a strong rebound, especially as the overall electric two-wheeler (E2W) market faced a decline of 18-20%, according to the latest data from the Government of India’s Vahan Portal.
The remarkable growth in Revolt Motors’ sales can be attributed to the success of its new affordable electric motorcycle models, the RV1 and RV1+. These models, designed specifically for Indian commuters, have been gaining popularity due to their combination of advanced technology, impressive mileage, and budget-friendly pricing. The RV1 and RV1+ are quickly becoming a favorite among environmentally conscious and cost-savvy consumers, providing an eco-friendly and economical alternative to traditional petrol-powered bikes.
As of 9:17 am, RattanIndia Enterprises shares were trading 6.56% higher at Rs 72.66 on the NSE.
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