The initiative allocates 5% of the company's share capital, aiming to recognise employee contributions and offer opportunities for wealth creation as part of the company's growth strategy.
11 Sep 2024 | 1457 Views | By Autocar Professional Bureau
Revolt Motors, an electric motorcycle company in India, has announced an Employee Stock Ownership Plan (ESOP) for all its employees as part of its 7th anniversary. This ESOP grant applies to all employees, including senior management and shop floor workers, reflecting the company's approach to inclusive stock ownership.
Revolt ...
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Revolt Motors, an electric motorcycle company in India, has announced an Employee Stock Ownership Plan (ESOP) for all its employees as part of its 7th anniversary. This ESOP grant applies to all employees, including senior management and shop floor workers, reflecting the company's approach to inclusive stock ownership.
Revolt Motors has allocated 5% of its share capital to the ESOP scheme, covering employees across various roles such as software engineers, product managers, sales staff, administrative staff, and shop floor workers. This move departs from the traditional practice of limiting ESOPs to senior management, emphasizing the importance of all team members in the company's growth.
The options are offered at a lower exercise price, providing employees an opportunity for potential wealth creation. The ESOP scheme aims to recognise employees' contributions and align them with the company's future growth plans. Revolt Motors intends to continue using ESOPs as a means of rewarding its workforce as the company progresses.
Anjali Rattan, Chairperson of RattanIndia Enterprises Limited, Revolt Motors' parent company, commented on the ESOP rollout: "Our entire workforce has been integral to our mission of transforming the two-wheeler landscape in India. The ESOP grant is a way to recognise their contributions and to provide them with the opportunity to benefit from the company's success."
Revolt Motors offers electric motorcycles in India, primarily focusing on two models: the RV400 and the RV300.
The Revolt RV400 is equipped with a 3.24 kWh lithium-ion battery, which powers a 3kW motor. This model has a top speed of 85 km/h and offers three riding modes: Eco, Normal, and Sport. The RV400 can travel up to 150 km in Eco mode, 100 km in Normal mode, and 80 km in Sport mode on a single charge. The battery can be charged in about 4.5 hours using a standard charger.
The RV400 features a fully digital display and supports connectivity through a mobile app, enabling functions such as remote key, geofencing, and diagnostics. The bike has a regenerative braking system and is equipped with upside-down forks at the front and a monoshock at the rear.
The Revolt RV300 is a smaller and slightly less powerful model compared to the RV400. It comes with a 2.7 kWh lithium-ion battery and a 1.5kW motor. The top speed of the RV300 is 65 km/h. Like the RV400, it also features Eco, Normal, and Sport modes, offering a range of up to 180 km, 110 km, and 80 km respectively, depending on the mode.
Charging the battery takes approximately 4.2 hours. The RV300 shares the same digital features and app-based connectivity as the RV400, including remote access and diagnostics. This model also has telescopic forks at the front and a monoshock at the rear.