eBikeGo’s Subsidiary Vajram Electric Acquires 40% Stake In Varcas

eBikeGo’s Subsidiary Vajram Electric Acquires 40% Stake In Varcas

eBikeGo’s subsidiary, Vajram Electric Ltd has acquired a 40% stake in Varcas Automobiles Pvt Ltd, an Electric Vehicle manufacturer based in Hyderabad. Varcas Automobiles Pvt Ltd has successfully delivered over 25,000 electric two-wheelers to date and generating a revenue of ₹110 crore.

With the acquisition, Vajram Electric Ltd aims to capitalize on Varcas’ robust manufacturing capabilities, which will enable it to scale up production and address the increasing demand for electric vehicles, particularly in Tier-2 and Tier-3 cities. The Indian EV market is witnessing exponential growth, driven by government initiatives, environmental awareness, and consumer preference for sustainable transportation.

The enhanced capacity of eBikeGo’s subsidiary is likely to allow it to cater to these emerging markets and establish a stronger foothold in the sector. Speaking on the acquisition, Dr. Irfan Khan, Chairman of Vajram Electric Ltd. said, “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.”

Varcas Automobiles Pvt Ltd.’s track record, combined with Vajram’s market reach and innovative approach, sets the stage for accelerated growth and expanded influence within the Indian EV ecosystem, the companies said in a media statement today. Speaking on the collaboration with Vajram Electric Pvt Ltd, Ram Vemireddy, Founder & CEO of Varcas Automobiles Pvt Ltd. said, “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. Finally found a perfect partner who is in harmony with our thoughts and mission, so together aim to lead the EV market in innovation and customer satisfaction.”

About Vajram Electric Ltd.

Vajram Electric Ltd is a subsidiary of eBikeGo, focused on advancing Automobiles Pvt solutions in India. The company is working to developing cutting-edge electric two-wheelers that cater to the needs of urban and rural markets, contributing to a sustainable future.
About Varcas Automobiles Pvt Ltd. Varcas Automobiles Pvt Ltd is an EV manufacturer headquartered in Hyderabad. The company has delivered over 25,000 electric two-wheelers and generated ₹110 crore in revenue, making it one of the fastest-growing players in India’s Automobiles Pvt sector.