BikeWo Green Tech Signs Strategic MoU with PositiEV Mobility; Proposes Hiten Pal Saklani as New CEO
BikeWo Green Tech Limited (BikeWo) has announced a major strategic move, signing a Memorandum of Understanding (MoU) with PositiEV Mobility Private Limited. The partnership aims to create an integrated EV mobility platform in India through a proposed acquisition by BikeWo.The MoU outlines the intention for BikeWo to acquire a majority stake, specifically 51%, in PositiEV Mobility. This transaction is contingent upon satisfactory due diligence, mutual valuation agreement, execution of definitive agreements, and necessary corporate and statutory approvals.
A key element of this strategic alliance is the proposal that Mr. Hiten Pal Saklani, the Founder of PositiEV Mobility, will assume the role of Chief Executive Officer (CEO) of BikeWo Green Tech Limited upon successful completion of the proposed transaction and subject to Board approval.
The intended partnership represents a significant step for BikeWo as it works toward building an end-to-end mobility ecosystem that incorporates EV retail, leasing, financing, charging infrastructure, battery swapping, fleet solutions, and after-sales services. By uniting the strengths of both companies, BikeWo aims to mitigate key challenges currently limiting large-scale electric vehicle adoption in India.
The announcement highlights the urgent need for comprehensive support systems within India's rapidly growing electric vehicle sector. Challenges such as fragmented financing, dealership sustainability, charging infrastructure gaps, and fleet management limitations continue to slow mass EV adoption. Through this proposed transaction, BikeWo intends to integrate PositiEV Mobility’s expertise in EV distribution, leasing, and infrastructure with its own vision for a scalable, technology-driven mobility platform.
PositiEV Mobility itself is a technology-enabled company focused on commercial EV distribution and leasing. It operates by integrating financing, charging infrastructure, maintenance, and fleet operations. The company maintains a collaborative ecosystem that connects OEMs, dealers, NBFCs, fleet operators, and infrastructure partners to streamline electric mobility for institutional and business customers.
Manideep Katepalli, Chairman & Managing Director of BikeWo Green Tech Limited, commented on the MoU, stating it marks an important milestone in the company's growth strategy. He noted that PositiEV Mobility’s strong capabilities across EV distribution, leasing, and mobility infrastructure make it a superb strategic match for BikeWo's vision. Mr. Katepalli added that Hiten Pal Saklani's deep understanding of the EV ecosystem positions him as the ideal leader to drive BikeWo's growth phase in building an integrated platform.
Hiten Pal Saklani, Founder & CEO of PositiEV Mobility, emphasized that success in India’s EV transition hinges not just on vehicles but on the entire supporting ecosystem. "The signing of this MoU reflects the shared vision of BikeWo and PositiEV Mobility to build an integrated EV mobility ecosystem," he stated. He added that they look forward to working together to empower manufacturers, dealers, financial institutions, and customers while accelerating India's transition toward clean mobility.
Upon the finalization of the proposed transaction and necessary approvals, Mr. Pal Saklani is slated to lead BikeWo as CEO, overseeing its business strategy, operations, partnerships, and expansion, driving the integration of PositiEV Mobility into BikeWo’s long-term growth roadmap. This partnership is expected to grant BikeWo access to PositiEV Mobility’s extensive network of dealer networks, institutional customers, financiers, and strategic partners.
BIKEWO Stock Price Movement
Bikewo Green Tech Limited shares surged today, closing at ₹41.6 after rising 4.92% against its previous close. The stock not only touched its 52-week high but also recorded a traded volume of 20,000 shares in the post-market session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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