RattanIndia Enterprises Share Price Rose 6.28%; Revolt Motors Reports 197% YoY Growth in E2W Sales

On Wednesday, RattanIndia Enterprises’ electric mobility arm, Revolt Motors, reported a 197% year-on-year (YoY) growth in electric two-wheeler (E2W) sales.

On December 4, 2024, RattanIndia Enterprises share price opened at ₹70.34, up from its previous close of ₹68.45. At 10:12 AM, the share price of RattanIndia Enterprises was trading at ₹72.75, up by 6.28% on the NSE.

In November 2024, Revolt sold 1,994 units, up from 671 units in the same month last year. This performance also marks a 109% month-on-month (MoM) increase compared to the 952 units sold in October 2024. Notably, the E2W industry as a whole experienced a sales decline of 18-20% during this period, according to the Government of India’s Vahan Portal data, making Revolt’s success even more remarkable.

Surge in Sales Driven by RV1 and RV1+

The surge in sales can largely be attributed to the launch of Revolt’s new affordable electric motorcycles, the RV1 and RV1+. Designed to meet the needs of the Indian market, these models offer cutting-edge technology at an affordable price, making them a viable alternative to traditional internal combustion engine (ICE) motorcycles. The strong demand for these bikes is reflected in the overwhelming number of pre-orders, which have directly contributed to the robust sales figures.

Expanding Dealership Network and International Expansion

Revolt Motors has expanded its reach with a nationwide network of 154 dealerships. The company plans to further grow this network with 14 new dealerships scheduled to open by the end of December 2024. Revolt has also taken its first step towards international expansion by launching operations in Sri Lanka on November 25, 2024, where it has already seen strong pre-orders. The company plans to expand into additional international markets in 2025 as part of its ambition to become a global leader in electric mobility.

Commenting on the performance, the Chairperson of RattanIndia Enterprises, Mrs Anjali Rattan, said, “Our performance this month reflects not just the strength of our products but the growing trust of our customers in the Revolt brand. As we scale new heights, our focus remains steadfast on delivering innovative, reliable, and sustainable mobility solutions. With a clear vision for the future, we are committed to driving the electric mobility revolution in India and beyond.”

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