Remsons Industries Expands Portfolio Through Acquisition of Astro Motors.

Automotive OEM components manufacturer Remsons Industries has acquired a 51% stake in electric vehicle maker Astro Motors for ₹14 crore, marking its entry into the growing EV segment. The deal includes ₹10 crore in cash and ₹4 crore worth of equity shares to be allotted on a preferential basis, subject to shareholder approval.

Astro Motors, based in Chakan, Pune, develops and manufactures electric vehicles for cargo, loaders, passengers, and micro-mobility. It is among the few electric three-wheeler manufacturers offering gear technology and boasts payload capacities of up to 747 kg and a range of 131 km.

Notably, Astro’s flagship EV, the Astro Navya, holds the record for reaching the world’s highest motorable road at Umling La Pass in Ladakh, situated at 19,024 feet. The acquisition enhances Remsons’ portfolio as it looks to diversify into the fast-evolving electric mobility space.

HBL