₹14.22 Crore Deal: Remsons Bets Big on Astro Motors' EVs

Remsons Industries, a leading manufacturer of automotive OEM components for two, three, and four-wheelers as well as commercial and off-highway vehicles, has acquired a 51.01% stake in electric vehicle startup Astro Motors for Rs 14.22 crore.

Based in Chakan, Pune, Astro Motors specializes in the development and manufacturing of electric three-wheelers for cargo, passenger, loader, and micro-mobility applications. The company is recognized for its gear-based EV technology and offers one of the highest payload capacities in its segment—747 kg, with a range of 131 km.

The investment includes Rs 4.22 crore in equity through a preferential allotment and Rs 10 crore in cash, marking Remsons Industries’ strategic entry into the fast-growing electric three-wheeler market. This move aligns with its broader goal to diversify and capitalize on India's transition toward sustainable mobility.

A standout achievement for Astro Motors is its Astro Navya, a geared electric cargo three-wheeler equipped with a 10.2 kWh battery. It made history by reaching Umling La Pass in Ladakh—the highest motorable road in the world at 19,024 ft. Known for exceptional incline climbing, range, and reliability in extreme conditions, the vehicle showcases the company’s innovation and engineering prowess.

Astro Motors is currently expanding its dealer network across India and is gearing up to launch new passenger EV models within the next four to six months.

News by Rahul Yelligetti.