Remsons Industries, an automotive OEM components manufacturer, has acquired a 51.01% stake in Astro Motors Private Limited for Rs. 142.2 million (US$ 1.7 million).

The transaction, announced on 9th April 2025, was structured as a combination of Rs. 4.22 crore in equity issued on a preferential basis and Rs. 100 million in cash.

Astro Motors manufactures electric three-wheelers for cargo, loader, passenger, and micro-mobility applications. The company operates a manufacturing facility in Chakan, Pune, and focuses on electric three-wheelers equipped with gear technology.

The company's product, the Astro Navya, has a payload capacity of 747 kg and a range of 131 km on a single charge. The vehicle previously reached Umling La Pass in Ladakh at an altitude of 19,024 feet, which is recognised as the highest motorable road in the world. The vehicle is powered by a 10.2 kWh battery.

Rahul Kejriwal, Executive Director at Remsons Industries, stated, "The acquisition of Astro Motors is a step in the company's strategy to expand in the electric vehicle segment. This segment has growth potential, and the transaction enables Remsons to increase its presence in the electric three-wheeler market and pursue additional business opportunities."

Astro Motors is in the process of expanding its dealer network across India and plans to launch electric passenger vehicles within the next four to six months. The company intends to target a niche market and aims to be among the top five electric three-wheeler manufacturers in India within the next three years.

The acquisition occurs at a time of increasing demand for last-mile delivery vehicles, supported by the growth of quick commerce and e-commerce in India. Electric three-wheelers are being considered in the commercial vehicle segment by businesses seeking to reduce operational costs and environmental impact.

Remsons Industries has been producing components for two-, three-, and four-wheeled vehicles for more than 50 years. Headquartered in Mumbai, the company has manufacturing operations in Gurgaon, Pune, Pardi, and Daman in India, as well as in Stourport and Redditch in the United Kingdom. Its product range includes control cables, gear shifters, pedal boxes, winches, lighting systems, and sensors.

The company has received certification as a Great Place To Work for four consecutive years and was ranked 30th among India's mid-size workplaces. It has also been acknowledged in industry-specific workplace assessments in the automotive sector.