Remsons Industries, a well-established automotive OEM parts producer, has acquired a 51% stake in Astro Motors for ₹14 crore.
Remsons Industries, an automotive OEM parts manufacturing firm, has acquired Astro Motors, which is engaged in creating and manufacturing electrical autos for cargo, loaders, passengers, and micro-mobility.
Remsons Industries acquires 51 per cent stake in Astro Motors for ₹14 crore. It will likely be allotted fairness shares price ₹4 crore on a preferential foundation, topic to the approval of members of the corporate, and ₹10 crore in money.
With a plant at Chakan in Pune, Astro Motors is among the few electrical three-wheelers with gear know-how and has payload capacities of 747 kgs and 131 kms vary. The Astro Navya, a Geared three-wheeled EV made by Astro Motors, set the document for the best motorable highway on the planet at Umling La Move in Ladakh, at 19,024 toes.
A ten.2 kWh battery powers the three-wheeled cargo automobile, which has best-in-class payload capability, incline climb and battery vary for all climate circumstances.
Astro Motors has appointed sellers and is increasing its attain throughout India. It additionally goals to launch passenger EV autos in about 4 to 6 months.
With ever-growing fast commerce and different e-commerce companies in India, the demand for last-mile supply commercials may be very excessive and increasing 12 months on 12 months.
Using on main launches and years of R&D, Astro Motors is equipped for area of interest market share within the subsequent three years and targets to be among the many first 5 main three-wheeler EV gamers.
Rahul Kejriwal, Govt Director of Remsons Industries, mentioned as the corporate continues to increase its portfolio, there’s important room for progress within the e-vehicle phase and to ascertain a presence within the quickly rising electrical three-wheeler area by tapping into new enterprise alternatives.
Mumbai, headquartered at Remsons Industries, is an automotive OEM parts producer for 2, three and four-wheeler autos in India and automotive OEMs globally for the final 50 years.
It has amenities in Gurgaon, Pune, Pardi, and Daman in India, in addition to Stourport & Redditch in England (UK).
Revealed on April 9, 2025
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