Revolt RV400 electric bike sold out in less than 2 hours, company makes profit of 50 crore

Revolt Motors had reopened its order books for the RV400 in India today after a long hiatus.

However, the company had to close the bookings in just two hours as it received an overwhelming response.

The company noted that the demand for RV400 "went over the roof", compelling Revolt to stop accepting electric bike's orders.

As a matter of fact, the company sold ₹50 crore worth of RV400 in less than two hours.

This is impressive considering that RV400 is currently available in six cities (Chennai, Ahmedabad, Hyderabad, Delhi, Pune, and Mumbai) only. Revolt Motors further noted that it will start delivering the bike by September, 2021.

Such an overwhelming demand for the e-bike can be attributed to a substantial drop in its price. Thanks to increased subsidies as per the latest amendments to the FAME II scheme, the RV400 now costs ₹1.07 lakh instead of ₹1.19 lakh.

And in case you want to buy RV400 in Delhi then you will have to spend ₹90,799, because of additional subsidies under Delhi EV Policy.

Revolt RV400 electric motorcycle comes with a 4 bhp electric motor that allows the bike to attain a top speed of 85 km/h and promises a riding range of 150 km/h

It can be fully charged in under four hours and has three riding modes -- Eco, Normal, Sport. Besides its powertrain, what also helps RV400's case is the inverted forks and adjustable mono-shock with an aluminium swingarm.

Last week, the government made a partial modification in Faster Adoption and Manufacturing of Electric Vehicles in India Phase II (FAME India Phase II), including increasing the demand incentive for electric two-wheelers to Rs 15,000 per kWh from the earlier uniform subsidy of Rs 10,000 per KWh for all EVs, including plug-in hybrids and strong hybrids except buses.