BikeWo Green Tech has signed a Memorandum of Understanding (MoU) to acquire a 51 per cent stake in PositiEV Mobility Pvt Ltd to build an integrated electric mobility ecosystem. According to reports from The Hindu BusinessLine, the acquisition is aimed at combining Hyderabad-based BikeWo's ambitions with PositiEV's expertise in EV distribution, leasing and infrastructure to create an end-to-end platform spanning EV retail, financing, leasing, charging infrastructure, battery swapping, fleet management and after-sales services. The proposed transaction remains subject to due diligence, regulatory approvals and board approval, as stated by Manideep Katepalli, Chairman & Managing Director of BikeWo Green Tech.
PositiEV founder Hiten Pal Saklani will be appointed Chief Executive Officer of BikeWo, subject to Board approval and completion of the transaction. As reported by The Hindu BusinessLine, Manideep Katepalli stated that this MoU marks an important step in BikeWo's long-term growth strategy. He emphasized that PositiEV Mobility has built strong capabilities across EV distribution, leasing and mobility infrastructure, making it an excellent strategic fit with BikeWo's vision. Both companies will work through the due diligence process and the required approvals before completing the transaction.
According to The Hindu BusinessLine, PositiEV was founded by Saklani and has developed a technology-enabled platform for commercial EV distribution and leasing by integrating financing, charging, maintenance and fleet operations. The platform connects OEMs, dealers, NBFCs, fleet operators and infrastructure partners, creating a comprehensive ecosystem for commercial EV adoption. The company operates a technology-enabled platform focused on commercial EV distribution and leasing, integrating financing, charging infrastructure, maintenance and fleet operations while connecting original equipment manufacturers (OEMs), dealers, non-banking financial companies (NBFCs), fleet operators and infrastructure partners.
As reported by The Hindu BusinessLine, the partnership is positioned to create one of India's most integrated EV mobility platforms. The collaboration leverages Hiten's deep understanding of the EV ecosystem, combined with his entrepreneurial experience and execution capabilities, making him the ideal leader to drive BikeWo's next phase of growth. The companies are committed to building an integrated platform that addresses the complete EV mobility value chain from retail to after-sales services. The combined platform is expected to span EV retail, financing, leasing, charging infrastructure, battery swapping, fleet management and after-sales services.
