The Indian electromobility company Motovolt Mobility Pvt Ltd has acquired a stake in eROCKIT AG and is investing one million Euros as the first step towards a capital increase.
The investment strengthens the product development and production of the two-wheeler manufacturer at their site near Berlin.
In addition to this commitment, Motovolt is planning further investments of close to 10 million Euros in India for industrialisation of eROCKIT products.
As part of product strategies, Motovolt’s commitment strengthens the production of premium eROCKIT models for making them in Germany and opens up access to India, world’s largest mobility market, as the internationalisation process continues.
Andreas Zurwehme (Chairman eROCKIT AG) said: “I am pleased to have Motovolt as a strong shareholder in the company. The investment accelerates eROCKIT’s expansion plans as a vehicle manufacturer and technology provider. It’s a strong signal for our shareholders. We are open to further investors.”
Tushar Choudhary (CEO Motovolt) commented: “eROCKIT is a great mobility concept that impresses with innovation and quality across the board. Together we will lead eROCKIT to global success. Motovolt intends to redefine motorcycle as a category in India to enhance user experience many folds by using eROCKIT technology platform that is backed by the next generation drivetrains and German engineering.”
SOURCE: eROCKIT
