Remsons Industries Acquires 51% Stake in EV Maker Astro Motors

Mumbai- Remsons Industries Limited., an automotive OEM components manufacturer serving two-, three-, and four-wheeler segments, along with commercial and off-highway vehicles across India and international markets, has announced the acquisition of Astro Motors Private Limited, a three-wheeler electric vehicle manufacturer.

Astro Motors is engaged in the development and manufacturing of electric vehicles for cargo, loaders, passenger transport, and micro-mobility applications.

Remsons has acquired a 51.01% stake in Astro Motors for a total consideration of INR. 14.22 crore (USD 1.71 million), comprising INR. 4.22 crore in equity (to be issued on a preferential basis, subject to shareholder approval) and INR. 10 crore in cash.

Headquartered in Chakan (Pune), Astro Motors is among the few EV manufacturers offering gear-based three-wheelers. Its flagship product, the Astro Navya, delivers a best-in-class payload capacity of 747 kg and a range of 131 km, powered by a 10.2 kWh battery. The Astro Navya gained national recognition for conquering the Umling La Pass in Ladakh (19,024 feet)—the highest motorable road in the world—setting a benchmark for endurance, performance, and engineering in the EV space.

Astro Motors is actively expanding its dealer network and is set to launch its electric passenger vehicle lineup within the next four to six months. With India’s booming e-commerce and quick commerce sectors, the need for high-performance, last-mile delivery EVs is rising rapidly.

With years of R&D and a robust product pipeline, Astro Motors is aiming to capture a significant niche in the electric mobility space and emerge as one of the top five players in the three-wheeler EV segment over the next three years.

This strategic acquisition marks a significant milestone for Remsons Industries as it diversifies its portfolio and accelerates its entry into the fast-growing electric vehicle market.

Mr. Rahul Kejriwal, Executive Director, Remsons Industries, said, “We’re excited to welcome Astro Motors into the Remsons family. This acquisition marks a key milestone in our journey toward sustainable growth. As we broaden our portfolio, we see tremendous potential in the electric three-wheeler space and a strong opportunity to establish a meaningful presence in this rapidly evolving segment while unlocking new avenues for business expansion.”

You must be logged in to respond.