BikeWo Green Tech Limited has signed a Memorandum of Understanding (MoU) with PositiEV Mobility Private Limited to pursue the proposed acquisition of a 51% majority stake in PositiEV Mobility, marking a strategic step toward building an integrated electric mobility ecosystem in India.
According to the announcement, the proposed transaction remains subject to satisfactory due diligence, mutually agreed valuation, execution of definitive agreements, and the receipt of all necessary corporate, statutory, and regulatory approvals.
As part of the proposed agreement, Hiten Pal Saklani, Founder of PositiEV Mobility, is expected to assume the role of Chief Executive Officer of BikeWo Green Tech upon completion of the transaction, subject to approval by the company’s Board of Directors and the execution of definitive agreements.
The acquisition is intended to strengthen BikeWo’s position in India’s rapidly expanding electric vehicle (EV) sector by integrating EV retail, leasing, financing, charging infrastructure, battery swapping, fleet management, and after-sales services into a single technology-driven platform.
The company stated that the partnership aims to address key barriers to EV adoption in India, including fragmented financing, limited charging infrastructure, dealership sustainability, fleet operations, and after-sales support. By combining the complementary capabilities of both organizations, BikeWo seeks to offer end-to-end mobility solutions for businesses and consumers.
Founded by Hiten Pal Saklani, PositiEV Mobility has developed a technology-enabled platform focused on commercial EV distribution and leasing. The company collaborates with original equipment manufacturers (OEMs), dealers, non-banking financial companies (NBFCs), fleet operators, and charging infrastructure providers to simplify electric mobility for institutional and commercial customers.
Commenting on the proposed transaction, Manideep Katepalli, Chairman and Managing Director of BikeWo Green Tech, said the MoU represents an important milestone in the company’s long-term growth strategy. He noted that PositiEV Mobility’s expertise in EV distribution, leasing, and mobility infrastructure aligns closely with BikeWo’s vision of creating one of India’s most comprehensive electric mobility platforms.
Hiten Pal Saklani said India’s electric vehicle transition now depends on building a complete ecosystem that integrates financing, charging infrastructure, dealership networks, fleet management, and after-sales services. He added that the partnership reflects the shared vision of both companies to accelerate the country’s transition toward clean and sustainable mobility.
Upon completion of the proposed acquisition, BikeWo plans to expand partnerships with OEMs, financial institutions, charging infrastructure providers, and fleet operators while strengthening its presence across EV distribution, leasing, digital mobility solutions, and clean energy infrastructure.
The company expects the proposed partnership to provide access to PositiEV Mobility’s expanding network of dealers, institutional customers, financiers, and strategic partners, supporting its market expansion strategy and reinforcing its commitment to advancing India’s clean mobility ecosystem.
