Pune: BikeWo Green Tech Limited has signed a Memorandum of Understanding (MoU) with PositiEV Mobility Private Limited, outlining the companies’ intention to establish a strategic partnership through a proposed transaction under which BikeWo plans to acquire a 51% majority stake in PositiEV Mobility.
The proposed acquisition remains subject to satisfactory due diligence, mutually agreed valuation, execution of definitive agreements, and all applicable corporate, statutory, and regulatory approvals.
The MoU also records the parties’ intention that, upon successful completion of the proposed transaction, Hiten Pal Saklani, Founder of PositiEV Mobility, will assume the role of Chief Executive Officer of BikeWo Green Tech Limited, subject to approval by the Board of Directors and execution of definitive agreements.
The proposed partnership marks a significant milestone in BikeWo’s strategy to build an integrated electric mobility platform that combines EV retail, leasing, financing, charging infrastructure, battery swapping, fleet solutions, and after-sales services within a single ecosystem.
By bringing together the complementary strengths of both companies, BikeWo aims to address key challenges affecting electric vehicle adoption in India while delivering end-to-end mobility solutions for businesses as well as individual consumers.
India’s electric vehicle sector continues to witness rapid expansion. However, challenges including fragmented financing, dealership sustainability, charging infrastructure, fleet management, and service support continue to limit large-scale EV adoption.
Through the proposed transaction, BikeWo intends to combine PositiEV Mobility’s capabilities in EV distribution, leasing, and infrastructure with its own vision of creating a scalable, technology-driven mobility ecosystem.
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Founded by Hiten Pal Saklani, PositiEV Mobility has established a technology-enabled platform focused on commercial EV distribution and leasing by integrating financing, charging infrastructure, maintenance, and fleet operations.
The company has also built a collaborative ecosystem connecting OEMs, dealers, NBFCs, fleet operators, and infrastructure partners to simplify electric mobility for businesses and institutional customers.
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.”
With more than a decade of leadership experience spanning electric mobility, manufacturing, clean technology, and venture building, Hiten Pal Saklani has worked extensively with EV manufacturers, startups, investors, and fleet operators.
As Founder and CEO of Xtrawrkx and Founder of PositiEV Mobility, he has supported organizations through strategic consulting, fundraising, operational excellence, manufacturing transformation, and ecosystem development.
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.”
Upon completion of the proposed transaction and receipt of all necessary approvals, Hiten Pal Saklani is proposed to lead BikeWo as Chief Executive Officer.
In this role, he will oversee the company’s business strategy, operations, partnerships, and expansion while leading the integration of PositiEV Mobility into BikeWo’s long-term growth roadmap.
The company also plans to strengthen collaborations with OEMs, financial institutions, charging infrastructure providers, and fleet operators while expanding its presence across EV distribution, leasing, digital mobility, and clean energy infrastructure.
The proposed partnership is expected to provide BikeWo with access to PositiEV Mobility’s expanding ecosystem of dealer networks, institutional customers, financiers, and strategic partners.
This is expected to support faster market expansion while unlocking new opportunities across commercial mobility and enterprise fleet solutions.
Together, BikeWo and PositiEV Mobility aim to build one of India’s most comprehensive and integrated electric mobility platforms by bringing together vehicles, financing, infrastructure, and technology into a seamless ecosystem.
BikeWo said it remains committed to supporting India’s clean mobility ambitions by making electric mobility more accessible, reliable, and scalable for businesses and consumers.
