She said the company has received enquiries for its electric two-wheelers from Nepal, Sri Lanka, Bangladesh, Brazil and Africa. “We are starting with Sri Lanka. As we expand our portfolio and have the right products as per customer needs in these countries, we will grow our footprint overseas,” Rattan told ET.
Revolt currently sells electric motorcycle models, RV400 and RV400 BRZ. It is slated to launch a new product on Tuesday.
Revolt, originally cofounded by Micromax founder Rahul Sharma, is a wholly owned subsidiary of BSE-listed RattanIndia, which also has interests in ecommerce, fintech and drone sectors.
Revolt has inked a distribution pact with Sri Lanka’s Evolution Auto for its vehicles. In the first phase, 15 dealerships would be opened over the next four months in Sri Lanka.
Rattan said the company has adequate capacity to meet an expected growth in sales over the next two years. Revolt will also make investments in developing multiple products and in advanced technologies, she added.
Revolt can currently produce up to 162,000 electric motorcycles annually.
“The company was under stress when we took over in January last year. But since then we have worked on and strengthened our supply chain, ramped up production. Sales have started picking up and with the incentives announced by the government under the PM E-DRIVE last week, the overall market should also see healthy traction going ahead,” Rattan said.
The Centre said it will extend subsidy of INR 10,000 per electric two-wheeler under the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) to enhance electric vehicle penetration in the total two-wheeler market to 10%. The scheme is projected to support sales of 2.479 million electric two-wheelers by March 2026. Sales of electric two-wheelers in India grew by 30% to 947,087 units in FY24.
Penetration of electric in total 2-wheelers sales stood at 5.4% last fiscal.
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