Source: press release | Motovolt Mobility Pvt Ltd has acquired a stake in eROCKIT AG and is investing one Million Euros towards a capital increase. This shows the company’s commitment to product development and production of their two-wheel vehicles near Berlin. In addition, Motovolt plans to invest around 10 million Euros into India for industrialization of eROCKIT products. Through this investment, they are aiming to produce premium eROCKIT models for Germany and gain access to India, the world’s biggest market for mobility services, as part of their internationalization process.
Andreas Zurwehme (Chairman eROCKIT AG): “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.”
“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.” says Tushar Choudhary (CEO Motovolt).
About eROCKIT
In the global booming electromobility market, the eROCKIT is an extraordinary vehicle (light motorcycle / L3e / 125ccm category), which differs fundamentally from other vehicles thanks to its innovative e-pedal drive. The eROCKIT is intuitive to combine the experience of a performance motorcycle and an e-bike for a unique rider experience. This is made possible by Human Hybrid technology. eROCKIT AG is a joint-stock company managed under German law (district court Berlin-Charlottenburg HRB231453 B) and offers investors the special opportunity to invest in a German e-mobility company. eROCKIT AG holds 100% of the shares in eROCKIT Systems GmbH in Hennigsdorf near Berlin. The unique pedal-controlled electric motorcycle eROCKIT is built here. The eROCKIT Group team consists of first-class two-wheeler and automotive experts and a strong management. Richard Gaul, business consultant and formerly head of communications at BMW, is member of the supervisory board of eROCKIT AG.
About Motovolt
Motovolt was founded in Kolkata in 2018 by Tushar Choudhary and his family and is one of the leading electric mobility companies in India making multi utility e-bikes and e-scooters for the mass commuters in the micro mobility space. The two-wheeler product range of Motovolt stands for intelligent e-mobility solutions with cutting-edge technology and modern design supported by in-house manufacturing of battery packs and sourcing of all components from India which is currently world’s third largest automotive component hub after US and China. Motovolt stands for sustainable mobility that has a positive effect on people’s lives. Within the coming years Motovolt plans to further invest around 40 Million Euros in the e-mobility business. India is one of the largest and fastest growing two-wheeler markets in the world. By 2030, the Indian government is aiming for a 30% share of electric vehicles.
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