M&A
Autocomp player Remsons acquires 51% stake in electric 3-wheeler maker Astro Motors for Rs.14.22 Cr
Remsons Industries has acquired 51% stake in Mumbai-headquartered three wheeler electric vehicle maker Astro Motors for INR 14.22 crore, in a mix of INR 4.22 crore equity issued on preferential basis and INR 10 crore in cash.Astro Motors manufactures electric vehicles for cargo, loaders, passengers and micro mobility. It has a plant in Chakan (Pune) and claims to make electric three-wheelers with gear technology with payload capacities as high as 747 kgs with 131 kms range.
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