BikeWo Green Tech has signed a Memorandum of Understanding (MoU) to acquire a 51 per cent stake in PositiEV Mobility Pvt Ltd to build an integrated electric mobility ecosystem.
The acquisition is aimed at combining Hyderabad-based BikeWo’s ambitions with PositiEV’s expertise in EV distribution, leasing and infrastructure to create an end-to-end platform spanning EV retail, financing, leasing, charging infrastructure, battery swapping, fleet management and after-sales services.
“This MoU marks an important step in BikeWo’s long-term growth strategy. PositiEV Mobility has built strong capabilities across EV distribution, leasing and mobility infrastructure, making it an excellent strategic fit with BikeWo’s vision. We look forward to working closely with the PositiEV team as we progress through due diligence and the necessary approvals,’’ Manideep Katepalli, Chairman & Managing Director, BikeWo Green Tech said in a release on Friday.
Integrated EV
We believe this partnership has the potential to create one of India’s most integrated EV mobility platforms. Hiten’s deep understanding of the EV ecosystem, combined with his entrepreneurial experience and execution capabilities, makes him the ideal leader to drive BikeWo’s next phase of growth. Together, we are committed to building an integrated
Founded by Saklani, PositiEV has developed a technology-enabled platform for commercial EV distribution and leasing by integrating financing, charging, maintenance and fleet operations while connecting OEMs, dealers, NBFCs, fleet operators and infrastructure partners.
PositiEV founder Hiten Pal Saklani will be appointed Chief Executive Officer of BikeWo, subject to Board approval and completion of the transaction.