In a strategic move to strengthen its foothold in the electric vehicle (EV) market, eBikeGo’s subsidiary, Vajram Electric Ltd, has acquired a 40% stake in Varcas Automobiles Pvt Ltd, a leading EV manufacturer based in Hyderabad. This acquisition represents a significant step for Vajram as it seeks to enhance its position in the rapidly evolving automotive sector.
Varcas Automobiles has established itself as a key player in the EV industry, successfully delivering over 25,000 electric two-wheelers and generating impressive revenues of ₹110 crore. This achievement reflects the company’s solid growth foundation and scalability. The partnership between Vajram and Varcas is expected to create new synergies, accelerating innovation, scaling production, and addressing the rising demand for electric two-wheelers throughout India.
With this acquisition, Vajram Electric Ltd plans to leverage Varcas’ robust manufacturing capabilities to scale up production and meet the increasing demand for electric vehicles, particularly in Tier-2 and Tier-3 cities. The Indian EV market is experiencing exponential growth, driven by government initiatives, environmental awareness, and consumer preference for sustainable transportation. Vajram’s enhanced production capacity will enable it to cater to these emerging markets and solidify its presence in the sector.
Dr. Irfan Khan, Chairman of Vajram Electric Ltd, commented on the acquisition: “This strategic partnership with Varcas Automobiles Pvt Ltd will provide us with the operational scale and technological expertise needed to meet the growing demand for electric two-wheelers. Together, we will drive greater innovation and bring affordable, high-quality electric vehicles to a larger audience, contributing to India’s green mobility revolution.”
The strong track record of Varcas Automobiles, combined with Vajram’s market reach and innovative approach, sets the stage for accelerated growth and expanded influence within the Indian EV ecosystem.
Ram Vemireddy, Founder and CEO of Varcas Automobiles Pvt Ltd, expressed enthusiasm about the collaboration, stating, “Varcas Automobiles is dedicated to revolutionizing the way we think about transportation in India. Our mission is to deliver high-quality, reliable, and affordable electric vehicles that meet the diverse needs of our customers while contributing to a cleaner environment. We have finally found a perfect partner who aligns with our thoughts and mission, and together, we aim to lead the EV market in innovation and customer satisfaction.
