BikeWo Green Tech Limited has signed a Memorandum of Understanding (MoU) to pursue a proposed strategic partnership with PositiEV Mobility Private Limited, a move that could significantly strengthen its presence across India’s rapidly evolving electric mobility ecosystem. Subject to satisfactory due diligence, mutually agreed valuation, definitive agreements and applicable corporate, statutory and regulatory approvals, BikeWo intends to acquire a 51% majority stake in PositiEV Mobility.
The proposed transaction goes beyond a conventional corporate acquisition. It reflects BikeWo’s broader ambition of creating an integrated electric mobility platform that combines vehicle distribution, leasing, financing, charging infrastructure, battery swapping, fleet management and after-sales services within a single ecosystem. If completed, the partnership could position the company to address several operational challenges that continue to influence EV adoption across India.
Building an Integrated EV Mobility Ecosystem
India’s electric vehicle market has witnessed steady growth over the past few years, supported by government initiatives, expanding product portfolios and growing consumer interest in sustainable transportation. However, the industry continues to face structural challenges, including limited charging infrastructure, financing accessibility, dealership viability, fleet management complexities and after-sales support.
Rather than addressing these issues independently, several companies are increasingly exploring integrated business models that bring together multiple mobility services under one platform. BikeWo’s proposed acquisition of PositiEV Mobility reflects this broader industry direction, with the company seeking to strengthen capabilities across the electric mobility value chain rather than focusing solely on vehicle sales.
According to the company, the proposed partnership aims to combine BikeWo’s long-term growth strategy with PositiEV Mobility’s experience in commercial EV distribution, leasing and mobility infrastructure to create a scalable technology-driven platform for businesses and consumers.
Strategic Value of the Proposed Deal
Founded by Hiten Pal Saklani, PositiEV Mobility has developed a technology-enabled platform focused on commercial electric vehicle distribution and leasing. The company works across several segments of the EV ecosystem, integrating financing, charging infrastructure, maintenance services and fleet operations while collaborating with OEMs, dealers, NBFCs, fleet operators and infrastructure partners.
For BikeWo, gaining access to this ecosystem could strengthen its market presence while expanding relationships with institutional customers, financiers and strategic partners. The proposed transaction is also expected to support the company’s expansion into commercial mobility solutions, digital mobility services and clean energy infrastructure.
The collaboration reflects how India’s electric mobility sector is gradually evolving beyond vehicle manufacturing towards building interconnected ecosystems capable of supporting long-term industry growth.
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Leadership Transition Proposed as Part of the Transaction
As part of the MoU, BikeWo has also proposed appointing Hiten Pal Saklani as Chief Executive Officer upon successful completion of the proposed transaction. The appointment remains subject to the approval of BikeWo’s Board of Directors and execution of the definitive agreements.
If approved, Mr. Saklani would oversee BikeWo’s business strategy, operational expansion, strategic partnerships and the integration of PositiEV Mobility into the company’s long-term growth roadmap.
With more than a decade of experience across electric mobility, manufacturing, clean technology and venture development, Hiten Pal Saklani brings over a decade of leadership experience across electric mobility, manufacturing, clean technology and venture building. As the Founder and CEO of Xtrawrkx and Founder of PositiEV Mobility, he has worked extensively with EV manufacturers, startups, investors and fleet operators, helping businesses scale through strategic consulting, fundraising, operational excellence, manufacturing transformation and ecosystem development.
Leadership Perspectives
Commenting on the MoU, Manideep Katepalli, Chairman & Managing Director, BikeWo Green Tech Limited 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. 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 mobility platform that accelerates EV adoption and creates long-term value for the entire ecosystem.”
Speaking on the signing of the MoU, Hiten Pal Saklani – Founder & CEO, PositiEV Mobility said: “India’s EV transition is entering a defining phase where success will depend not only on vehicles but on the ecosystem that supports them. Financing, charging infrastructure, dealership sustainability, fleet management and after-sales service must work together to make electric mobility truly scalable. The signing of this MoU reflects the shared vision of BikeWo and PositiEV Mobility to build an integrated EV mobility ecosystem. We look forward to working closely with BikeWo to build an integrated platform that empowers manufacturers, dealers, fleet operators, financial institutions and customers, while accelerating India’s transition towards clean and sustainable mobility.”
Expanding India’s Clean Mobility Landscape
Upon completion of the proposed transaction and receipt of the necessary approvals, BikeWo plans to strengthen partnerships with OEMs, financial institutions, charging infrastructure providers and fleet operators while expanding its footprint across EV distribution, leasing, digital mobility services and clean energy infrastructure.
The company believes access to PositiEV Mobility’s growing ecosystem of dealer networks, institutional customers and strategic partners will help accelerate market expansion while creating new opportunities across commercial mobility and enterprise fleet solutions.
Although the transaction remains subject to multiple approvals before completion, the announcement signals BikeWo’s intention to participate in the next phase of India’s electric mobility evolution by developing an integrated ecosystem rather than operating as a standalone EV business.
As India’s clean mobility sector continues to mature, companies are increasingly recognizing that the future of electric transportation depends not only on manufacturing more vehicles but also on strengthening the supporting infrastructure, financing networks, fleet services and digital platforms that make widespread EV adoption commercially viable. If completed, BikeWo’s proposed partnership with PositiEV Mobility would represent another step in that direction.
