e-mobility brand Motovolt has entered a strategic agreeement with a German electric 2-wheeler OEM, eROCKIT AG. The initial investment of 1 million euros is aimed at strengthening the product development and production of eROCKIT’s premium models at their manufacturing site in Berlin, Germany.
Motovolt aims to invest around 10 million euros for industrialisation of eROCKIT products.
This marks Motovolt’s first step towards expanding their footprint globally for sales and distribution of its electric mobility solutions. The deal is also a push towards the Indo-German trade and collaboration in the EV sector, said a press statement issued by the company.
The Indian EV market is growing rapidly and over a million vehicles across all categories were sold last year. Motovolt’s emphasis has been on plugging the affordable micro-mobility segment in the country. Through this strategic alliance, Motovolt also aims to leverage eROCKIT’s tech stack to enhance the entire range of its products.
“The deal with eROCKIT is going to make a major impact on the Indian markets, and transform the 2-wheeler segment. Our aim is to benefit from eROCKIT’s knowhow to develop relevant product solutions for Indian consumers. We will also be focusing on extensively manufacturing eROCKIT’s products domestically under the Make in India initiative and set up a global footprint for sales and distribution of our products,” Tushar Choudhary, Founder & CEO, Motovolt, said in a press statement.