Electric mobility company BikeWo Green Tech has signed a Memorandum of Understanding (MOU) to acquire a 51% stake in PositiEV Mobility Pvt. Ltd., marking a significant step toward building a comprehensive electric mobility ecosystem in India.
The proposed acquisition will combine Hyderabad-based BikeWo’s expansion strategy with PositiEV Mobility’s expertise in electric vehicle (EV) distribution, leasing, and mobility infrastructure. As a result, the combined entity aims to create an integrated platform that offers EV retail, vehicle financing, leasing, charging infrastructure, battery swapping, fleet management, and after-sales services under one ecosystem.
The strategic partnership aligns with the rapidly growing demand for sustainable transportation and reinforces BikeWo’s long-term commitment to strengthening India’s electric vehicle industry through technology-driven mobility solutions.
Manideep Katepalli, Chairman & Managing Director, BikeWo Green Tech, said, “This MoU marks an important step in BikeWo’s long-term growth strategy. PositiEV Mobility has built strong capabilities across EV distribution, leasing, and mobility infrastructure, making it an excellent strategic fit with BikeWo’s vision. We look forward to working closely with the PositiEV team as we progress through due diligence and the necessary approvals.”
He further added, “We believe this partnership has the potential to create one of India’s most integrated EV mobility platforms. Hiten’s deep understanding of the EV ecosystem, combined with his entrepreneurial experience and execution capabilities, makes him the ideal leader to drive BikeWo’s next phase of growth. Together, we are committed to building an integrated electric mobility ecosystem.”
Founded by Hiten Pal Saklani, PositiEV Mobility has developed a technology-enabled commercial EV platform that integrates vehicle financing, EV charging infrastructure, maintenance services, fleet management, and leasing solutions. The company also connects original equipment manufacturers (OEMs), automobile dealers, non-banking financial companies (NBFCs), fleet operators, and infrastructure partners, creating a collaborative ecosystem for commercial electric mobility.
Following the completion of the transaction and subject to Board approval, Hiten Pal Saklani, Founder, PositiEV Mobility, will assume the role of Chief Executive Officer of BikeWo Green Tech. His appointment is expected to strengthen the company’s leadership while accelerating the development of its integrated EV business.
The acquisition reflects the increasing consolidation within India’s electric mobility sector as companies seek to expand beyond vehicle sales into comprehensive mobility services. By combining EV retail, financing, leasing, charging, battery swapping, and fleet management, BikeWo aims to deliver seamless solutions for businesses and consumers while supporting the country’s transition toward clean transportation.
BikeWo Green Tech’s proposed acquisition of a majority stake in PositiEV Mobility represents a strategic move to establish one of India’s most integrated electric mobility platforms. By combining expertise in EV distribution, financing, leasing, charging infrastructure, and fleet management, the company aims to strengthen its presence in the fast-growing electric vehicle ecosystem. Subject to regulatory approvals and due diligence, the partnership is expected to accelerate innovation and support the widespread adoption of sustainable mobility solutions across India.
