The Rs. 14.22 crore acquisition marks Remsons' entry into the growing electric vehicle market, targeting the expanding last-mile delivery segment with Astro's geared EV technology.
09 Apr 2025 | 1801 Views | By Angitha Suresh
Remsons Industries Limited, a veteran automotive OEM components manufacturer, has acquired a 51.01% stake in Astro Motors Private Limited for Rs. 14.22 crore. The deal, announced on April 9, 2025, was structured as a mix of Rs. 4.22 crore in equity issued on preferential basis and Rs. 10 crore in ...
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Remsons Industries Limited, a veteran automotive OEM components manufacturer, has acquired a 51.01% stake in Astro Motors Private Limited for Rs. 14.22 crore. The deal, announced on April 9, 2025, was structured as a mix of Rs. 4.22 crore in equity issued on preferential basis and Rs. 10 crore in cash.
Astro Motors manufactures electric three-wheelers for cargo, loaders, passengers, and micro mobility applications. The company operates a manufacturing facility in Chakan, Pune, and specializes in electric three-wheelers with gear technology.
The Pune-based company's flagship product, Astro Navya, features a payload capacity of 747 kg and a range of 131 km on a single charge. The vehicle previously set a record by reaching Umling La Pass in Ladakh at an altitude of 19,024 feet, which is recognized as the highest motorable road in the world. The three-wheeled cargo vehicle is powered by a 10.2 kWh battery.
"We are thrilled to bring Astro Motors into the Remsons family. This acquisition is an essential step in our journey to grow in a sustainable manner," said Rahul Kejriwal, Executive Director at Remsons Industries. "We see significant room for growth in this segment and to establish our presence in the rapidly growing electric three-wheeler segment while unlocking new business opportunities."
Astro Motors is currently expanding its dealer network across India and plans to launch passenger EV vehicles within the next four to six months. The company aims to capture a niche market share within the next three years and position itself among the top five leading three-wheeler EV players in India.
The acquisition comes at a time when demand for last-mile delivery vehicles is increasing due to the growth in quick commerce and e-commerce businesses in India. Electric three-wheelers represent a significant opportunity in the commercial vehicle segment as businesses look to reduce operational costs and environmental impact.
Remsons Industries has been manufacturing automotive components for two, three, and four-wheeler vehicles for the past 50 years. The Mumbai-headquartered company operates facilities in Gurgaon, Pune, Pardi, and Daman in India, as well as in Stourport and Redditch in the UK. Remsons' product portfolio includes control cables, gear shifters, pedal boxes, winches, lighting, and sensors.
The company has been recognized as a Great Place To Work for four consecutive years and was ranked 30th among India's great mid-size workplaces. It has also received recognition as a best workplace in the auto and auto components industries.