e-Ashwa Automotive Private Limited announced that it has acquired a 100% stake in the electric two-wheeler company of North-East India, Stripes Motors Pvt. Ltd.
Vikas Gupta, Founder & CEO, e-Ashwa Automotive, said, “With this strategic purchase, e-Ashwa’s operation will expand and strengthen its foothold in North-East India, and expand its dealer network to provide affordable last-mile mobility for the people of North-East India.”
Gupta said that e-Ashwa will now have three models of electric two-wheelers as part of this acquisition. This will allow the company to offer a wider range of electric vehicles to its customers.
e-Ashwa has also released 12 models of electric two-wheelers and a few electric three-wheelers under its own brand e-Ashwa. Besides vehicles like e-Cargo and e-Garbage in the three-wheelers verticals, e-Ashwa also offers a model of e-Rickshaw and e-Loader for electric three-wheelers.
e-Ashwa, a company that sells EV products for the past 4 years has set up 26 assembly units in different parts of the country. There are 750+ members from technical and support teams as well as dedicated Research and Development personnel.