Revolt Motors, the first domestic company to enter the electric motorbike market, is developing plans to export vehicles under its new leadership. Anjali Rattan Nashier, the company's business chairperson, confirmed this. RattanIndia Enterprises acquired the Gurgaon-based EV startup in January for an unknown sum.
RattanIndia has already employed a specialised staff for overseas markets. While the majority of the company's focus will remain on the domestic market, it has received inquiries for its battery-powered motorcycles in Latin America, the ASEAN region, as well as African and European markets.
“We are starting deliveries outside India very soon and will begin with Nepal, Bangladesh and Sri Lanka. We have received enquiries for our product from Africa, Latin America and India lookalike markets. In the long term, we expect exports to account for 30 percent of total sales,” said Nashier.
With this move, Revolt will become the first such two-wheeler manufacturer to sell an electric motorcycle built in India for global markets. Internal combustion engine vehicle makers such as Hero MotoCorp, TVS Motor Company, Honda Motorcycle and Scooters India (HMSI), Bajaj Auto and Yamaha India, etc., make sizeable shipments of their petrol-driven motorcycles to overseas markets.
Asked about the rationale for the overseas ambitions, Nashier said, “Many of the countries that I had mentioned are already selling electric scooters but don’t have (electric) bikes. So, I have an advantage in taking my bike internationally. Also, once you start selling in small batches, there will be a demand created for electric motorcycles.” As for selling products in evolved markets such as the US, Europe or Japan, she maintained, “Plans are definitely there but I cannot declare where exactly I am going. We are working on the costing of that country in the whole ecosystem.”
Currently, Revolt Motors sells the RV400, which is Rs. 1.24 lakh (ex-showroom, Delhi) and has a claimed range of 150 km per charge. Available in a single variant, it is equipped with a 3.24 KWh battery, which takes 4.5 Hours to get fully charged.
Talking about the expansion plans, Nashier revealed, “There is pent-up demand from both northern and southern parts of the country. Hence, we want to have a facility in both the regions to cater to the demand there. The production lines will be automated and the output will be flexible, as per market demand.”
Revolt, citing a Deloitte report, states that E2W are estimated to account for 80 percent of the total two-wheeler market (including ICE vehicles) by 2030. The Indian EV market, valued at $3 billion in 2022, is expected to grow to $114 billion by 2029 at a CAGR of 67 percent, said Rattan India, citing the same report.