Remsons Industries has acquired 51.01% stake in Astro Motors for Rs 14.22 crore, in a mix of Rs 4.22 crore equity issued on preferential basis and Rs 10 crore in cash. Astro Motors is engaged in the business of developing and manufacturing of electric vehicles for cargo, loaders, passengers and micro mobility.
Astro Motors with a plant in Chakan (Pune) is one of the few electric three-wheelers with gear technology with one of the highest payload capacities of 747 kgs and 131 kms range. The Astro Navya, a Geared three wheeled EV made by Astro Motors, set the record for the highest motorable road in the world at Umling La Pass in Ladakh, at 19,024 feet. A 10.2 kWh battery powers the three-wheeled cargo vehicle, which has best-in-class payload capacity, incline climb and battery range for all weather conditions.
Remsons Industries is an OEM Manufacturer supplying to two, three, four wheelers all over India and exports globally.
