Vajram Electric Ltd., a subsidiary of eBikeGo, has purchased a 40% share in Hyderabad-based Varcas Automobiles Pvt Ltd, an electric vehicle manufacturer. The purpose of this acquisition is to increase Vajram’s market share in India’s EV industry.
Varcas Automobiles has demonstrated its potential for expansion by delivering more over 25,000 electric two-wheelers and earning ₹110 crore in revenue. According to the company, the collaboration between Vajram and Varcas is anticipated to provide synergies that could enhance innovation and boost output in order to satisfy India’s rising demand for electric two-wheelers.
Vajram Electric intends to increase production with this acquisition by utilizing Varcas’ manufacturing capabilities, especially in Tier-2 and Tier-3 cities. Driven by government initiatives and growing consumer interest in sustainable mobility, the Indian EV industry is expanding significantly. With more capacity, Vajram might be able to meet the demands of emerging markets. This strategic partnership also aims to improve supply chain efficiencies and leverage technological advancements, ultimately creating a more sustainable future for the electric vehicle sector in India. By focusing on affordability and accessibility, they hope to capture a larger share of the market.
The chairman of Vajram Electric Ltd., Dr. Irfan Khan, stated that this collaboration will offer the operational scope and technological know-how required to satisfy the growing demand for electric two-wheelers. The partnership seeks to promote innovation and provide accessibility to reasonably priced electric vehicles, hence advancing green transportation in India.