Indian Oil Issues Empanelment Tender for Solar Power Projects

Southern Railway Seeks Bids for 1.2 MW Rooftop Solar Projects in Chennai

Husk Secures $4 Million from Electrifi to Scale up Mini Grids in Rural India

Doubling Transmission Capacity of Existing Grid Through Reconductoring: Report

Daily News Wrap-Up: BJP, Congress Bet Big on Renewables in Election Manifestos

As ISTS Waiver Nears End, Developers Need Extension Amid Lack of Substations

Mahindra Susten to Develop 150 MW Open Access Renewable Power Project

BJP, Congress Bet Big on Renewables in 2024 Election Manifestos

Daily News Wrap-Up: REIL Invites Bids for 200,000 Mono PERC Solar Cells

Solar, Storage, Wind Drive 95% of US Interconnection Queues as Backlog Rises


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="http://cms.mercomindia.com/wp-content/uploads/2023/03/amazon_polly_51860.mp3?version=1679910703">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>India-based electric mobility company <a href="https://www.motovolt.co/" target="_blank" rel="noopener">Motovolt</a> said it has acquired a stake in <a href="https://www.erockit.de/en/home-2/" target="_blank" rel="noopener">eROCKIT</a>, a Germany-based electric two-wheeler original equipment manufacturer (OEM).</p>
<p>Motovolt has primarily focused on providing affordable micro-mobility solutions in India. eROCKIT is an electric two-wheeler that combines the performance of a motorcycle with the ease of use of an e-bike, resulting in a one-of-a-kind riding experience. It is accomplished with Human Hybrid technology.</p>
<p>Motovolt&#8217;s initial investment of €1 million (~$1.07 million) in eROCKIT is intended to support the product development and production of eROCKIT&#8217;s high-end models at their manufacturing facility located in Berlin, Germany.</p>
<p>Additionally, the company said it aims to invest approximately €10 million (~$10.7 million) in the industrialization of eROCKIT products, which could help Motovolt expand its offerings and enhance the quality of its electric mobility solutions.</p>
<p>This company said that the deal marks the first strategic merger and acquisition deal between an Indian EV startup and a German OEM. It could have significant implications for the electric vehicle industry, it added.</p>
<p>Additionally, the agreement is a step towards promoting Indo-German trade and collaboration in the electric vehicle sector.</p>
<p>The deal would provide Motovolt access to new technologies and resources by investing in a German electric vehicle manufacturer, while eROCKIT can benefit from Motovolt&#8217;s expertise in the Indian market.</p>
<p>Further, the deal would also allow Motovolt to leverage the German company&#8217;s technology to improve the entire range of Motovolt products, the company said.</p>
<p>Motovolt is an Indian company that was established in Kolkata in 2018, and it specializes in producing multi-utility electric bikes and scooters for mass commuters in the micro-mobility sector.</p>
<p>The company is committed to promoting sustainable mobility and aims to invest approximately €40 million (~$43 million) in the e-mobility business in the coming years.</p>
<p>It is worth noting that the electric vehicle market in India is expanding rapidly, with more than one million electric vehicles of all types <a href="https://www.mercomindia.com/ev-sales-clocked-record-one-million-units-2022" target="_blank" rel="noopener">sold</a> in the country last year alone.</p>
<p>This trend indicates a growing demand for sustainable transportation options and suggests that there is significant potential for electric mobility companies to succeed in the Indian market.</p>
<p>Electric vehicle industry stakeholders are optimistic about the year ahead and expect higher sales traction in 2023. Read the major developments in the industry of 2022 <a href="https://www.mercomindia.com/industry-electric-vehicle-sales-build-blockbuster-2022" target="_blank" rel="noopener">here</a>.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
<br />
<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
</div></div><div class="clearfix"></div></div></div>

Motovolt Acquires Stake in German Electric 2-Wheeler OEM eROCKIT

motovolt

Get the most relevant India solar and clean energy news.

RECENT POSTS