e-Ashwa Automotive acquires electric two-vehicle firm Stripes Motors
Published On Jul 27, 2022
Betting big on the rapid transition towards EVs, the new acquisition will strengthen the company’s presence in eastern India.
e-Ashwa Automotive, one of the leading and fastest growing electric vehicle manufacturing brands in the country, has announced a 100 per cent acquisition of Stripes Motors which sells electric 2-Wheelers under the popular Stripes brand in North-East India.
Stripes Motors is one of the fastest growing companies of electric vehicles in Assam & North East India. They deal in Electric Bicycles and Electric Bikes. The brand is very popular amongst the young generation of Assam and North East due to its stylish models and innovative designs.
Related: Electric Vehicle makers e-Ashwa Automotive’s unique Decentralised Co-Assembly Unit concept in India
Speaking on this acquisition, Vikas Gupta, Founder & CEO, e-Ashwa Automotive, said, “North-East India is one of the key target markets for e-Ashwa. With this strategic acquisition, e-Ashwa will expand its operation and strengthen its foothold in North-East India and expand its dealership network to provide affordable and smooth last mile mobility for the people of North-East India. With this acquisition, e-Ashwa will have access to three exclusive models of electric 2-Wheelers in its kitty by Stripes Motors and thereby enhancing the bouquet of e-Ashwa products to its customer with a wide variety of models and product ranges in electric vehicles.
Top EV makers
e-Ashwa also launched 12 different models of electric 2-wheelers last year and has a few electric 3-wheelers models under its own brand e-Ashwa. Under electric 3-wheelers, e-Ashwa has its model of e-Rickshaw, e-Loader and e-Auto apart from vehicles like e-Cargo, e-Garbage, e-School van and the like in the 3-wheelers verticals.
For the last 4 years, e-Ashwa has been selling EV products and has so far set up 26 Assembly units in various parts of the country with 750+ team members from technical and support function backgrounds including dedicated Research and Development people. To date, it has sold over 18,000 EV products under different categories - e-scooters, e-motorbikes, e-loaders, e-food carts to e-garbage vehicles. It has assembly units in 16 states with a strong dealership network of over 950 dealers across the country.
Want to buy an electric auto-rickshaw or a new truck? At TrucksDekho, we help you with all your truck buying needs. Check out top truck brands, and popular truck models, compare, calculate EMI, get an on-road price quote, and deals on finance and insurance.