Multi-Million Euro partnership - eROCKIT Germany welcomes Indian Motovolt as a new shareholder
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Multi-Million Euro partnership: eROCKIT Germany welcomes Indian Motovolt as a new shareholder
The Indian electromobility company Motovolt Mobility Pvt Ltd acquires a stake in eROCKIT AG and is investing one Million Euros as the first step towards a capital increase. The investment strengthens the product development and production of the two-wheeler manufacturer at their site near Berlin. In addition to this commitment, Motovolt is planning further investments of close to 10 million Euros in India for industrialisation of eROCKIT products. As part of product strategies, Motovolt's commitment strengthens the production of premium eROCKIT models for making them in Germany and opens up access to India, world's largest mobility market, as the internationalisation process continues.
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."
Tushar Choudhary (CEO Motovolt): "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."
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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eROCKIT AG
Eduard-Maurer-Str. 13
16761 Hennigsdorf
Phone: +49-3302-2309-125
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