Panache Digilife hits the roof with EV manufacturing deal with Revamp Moto. | So Good News
Panache Digilife locked in a 10% higher circuit at Rs 81.25 after announcing that it has signed a manufacturing and supply agreement with Revamp Moto for their modular electric vehicles (EV) in the Indian market.
Revamp Moto, based in Nashik, aims to accelerate the development of electric vehicles based on its modular utility platforms to accelerate the transition to a zero emission society.
With this organization, Each party is involved in new product development (NPD); research and development (R&D); They will focus on building their own strengths with Revamp Moto working on developing new technologies and IPs.
Panache installs products; It will focus on optimization and genetics of components that make it a force to be reckoned with in the Indian EV market.
This alliance will help both Revamp and Panache to focus on their specific domains and not only bring a lot of transparency in the EV manufacturing and installation of these products, but also speed up the process significantly.
Amit Rambhia, Chairman and Managing Director, Panache Digilife, said Revamp Moto’s bold and innovative approach to designing and building electric vehicles that have never been seen in the country makes them an ideal partner for Panache.
With this association, Panache enters the world of electric mobility and also enhances our expertise in providing contract manufacturing solutions. We are delighted to partner with Revamp Moto and combine our efforts to shape the future of mobility with ‘Made in India’ products, not just in India.
Panache Digilife designs, manufactures and markets NSE listed ICT and IoT devices. manufacturing A distribution and service company. Panache is a smart computing device; wmart & AI-based digital classrooms; smart asset management; Retail IoT; healthy living solutions; We provide solutions for OEM/ODM manufacturers of AV display and pen display solutions and other contract manufacturers.
The company reported a net profit of Rs 0.08 crore for the quarter ended June 2022, as it posted a net loss of Rs 0.43 crore for the quarter ended June 2021. Q2 FY22 sales up 79.21% over FY23.
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