Remsons Industries expands portfolio with Astro Motors acquisition

Remsons Industries, a well-established automotive OEM components manufacturer, has acquired a 51% stake in Astro Motors for ₹14 crore.

Remsons Industries, an automotive OEM components manufacturing company, has acquired Astro Motors, which is engaged in developing and manufacturing electric vehicles for cargo, loaders, passengers, and micro-mobility.

Remsons Industries acquires 51 per cent stake in Astro Motors for ₹14 crore. It will be allotted equity shares worth ₹4 crore on a preferential basis, subject to the approval of members of the company, and ₹10 crore in cash.

With a plant at Chakan in Pune, Astro Motors is one of the few electric three-wheelers with gear technology and has payload capacities of 747 kgs and 131 kms range. The Astro Navya, a Geared three-wheeled EV made by Astro Motors, set the record for the highest motorable road in the world at Umling La Pass in Ladakh, at 19,024 feet.

A 10.2 kWh battery powers the three-wheeled cargo vehicle, which has best-in-class payload capacity, incline climb and battery range for all weather conditions.

Astro Motors has appointed dealers and is expanding its reach across India. It also aims to launch passenger EV vehicles in about four to six months.

With ever-growing quick commerce and other e-commerce businesses in India, the demand for last-mile delivery commercials is very high and expanding year on year.

Riding on major launches and years of R&D, Astro Motors is geared up for niche market share in the next three years and targets to be among the first five leading three-wheeler EV players.

Rahul Kejriwal, Executive Director of Remsons Industries, said as the company continues to expand its portfolio, there is significant room for growth in the e-vehicle segment and to establish a presence in the rapidly growing electric three-wheeler space by tapping into new business opportunities.

Mumbai, headquartered at Remsons Industries, is an automotive OEM components manufacturer for two, three and four-wheeler vehicles in India and automotive OEMs globally for the last 50 years.

It has facilities in Gurgaon, Pune, Pardi, and Daman in India, as well as Stourport & Redditch in England (UK).

Published on April 9, 2025