Project News Detail
| Project No : | 204578 |
|---|---|
| Project Title : | Remsons Industries to Enter EV Three Wheeler Segment with Stake buy in Astro Motors in Maharashtra. |
| Company Name : | Remsons Industries Limited |
| Project Detail : | Remsons Industries, a prominent automotive OEM components manufacturer catering to two, three, and four-wheeler vehicles as well as commercial and off-highway vehicles, has acquired a 51.01 percent stake in electric vehicle maker Astro Motors for Rs 14.22 crore. Astro Motors, based in Chakan (Pune), develops and manufactures electric three-wheelers for cargo, passenger, loaders, and micro-mobility applications. Known for its gear-based electric vehicle technology, the company offers one of the highest payload capacities in the segment, 747 kgs and a range of 131 km. With this acquisition, Remsons Industries is poised to make a strong entry into the electric three-wheeler segment, aligning with its strategy to diversify and tap into India’s growing sustainable mobility market. The investment comprises Rs 4.22 crore in equity issued on a preferential basis and Rs 10 crore in cash. A notable achievement for Astro Motors is its Astro Navya, a geared electric cargo three-wheeler powered by a 10.2 kWh battery, which set a record by reaching the highest motorable road in the world at Umling La Pass in Ladakh, situated at 19,024 ft. The vehicle boasts best-in-class incline climbing, battery range, and performance across all weather conditions. Astro Motors has been expanding its dealer network across India and is actively preparing to launch passenger EV models within the next four to six months. |
| Project Location : | Pune - Maharashtra - India |
| Project Estimation : | Refer Document |
| Status : | Announced |