BikeWo Green Tech signs MoU to acquire 51 percent stake in PositiEV Mobility
HYDERABAD — BikeWo Green Tech Limited has officially signed a Memorandum of Understanding (MoU) to acquire a 51 percent majority stake in PositiEV Mobility Private Limited. The strategic agreement, which was announced on 3 July 2026, outlines the mutual intention of both companies to pursue a partnership that will establish an integrated electric vehicle (EV) mobility platform.
The proposed transaction is designed to bring together various aspects of the electric vehicle ecosystem. Upon the successful completion of the acquisition, Hiten Pal Saklani, the founder of PositiEV Mobility, is expected to take over as the Chief Executive Officer (CEO) of BikeWo Green Tech Limited. This leadership change remains subject to the official approval of the company's Board of Directors, as well as the execution of final definitive agreements between the two parties.
For BikeWo, the proposed transaction represents a significant milestone in its business journey. The company aims to leverage the acquisition to create a highly integrated platform. This ecosystem will bring together multiple key services under one banner, including EV retail, vehicle leasing, consumer financing, charging infrastructure, battery swapping, commercial fleet solutions, and after-sales services.
PositiEV Mobility, which was founded and developed by Saklani, operates a specialized technology-enabled platform. The company's primary focus is on commercial EV distribution and leasing. To support this, PositiEV Mobility has built a system that integrates financing options, charging infrastructure, vehicle maintenance, and fleet operations.
Manideep Katepalli, the Chairman and Managing Director of BikeWo Green Tech Limited, expressed strong confidence in the future of the collaboration. He stated that the company believes this partnership has the potential to create one of India's most integrated EV mobility platforms.
Both companies are expected to proceed with the next steps of the transaction, including the execution of definitive agreements.
