Panache Digilife stock zooms as company inks pact with Revamp Moto for EVs

Panache offers solutions around Smart Computing Devices, Smart & AI based Digital Classrooms, Smart Asset Management, Retail IoT, Healthy Living Solutions, AV Display and Pen Display Solutions and other contract manufacturing.

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Shares of Panache Digilife surged on October 31 after the company informed that it has signed a Manufacture and Supply Agreement with Revamp Moto Private Limited for EV Vehicles in the Indian Market.

The stock jumped over 8 percent to Rs 80 per share as of 9.40 am.

Revamp Moto is a Nashik based two year old start-up engaged in development of exceptionally reliable, adaptable, and connected Electric Vehicles based on its Modular Utility Platforms.

The company said in this association, Revamp Moto be working on new product development (NPD), Research and Development (R&D), new technologies, and generating IPs while Panache will focus on quality product assembly, process optimisation, and indigenisation of components which makes it foray in the Indian EV market.

“Revamp Moto’s bold and innovative approach to designing and building electric vehicles that have yet to be seen before in the country make them the ideal partner for Panache,” said Amit Rambhia, Chairman and Managing Director, Panache Digilife.

“With this association, Panache makes its entry into the world of electric mobility and also advances our expertise in providing contract manufacturing solutions.”

The company did not disclose the monetary value of the deal.

Listed on NSE, Panache offers solutions around Smart Computing Devices, Smart & AI based Digital Classrooms, Smart Asset Management, Retail IoT, Healthy Living Solutions, AV Display and Pen Display Solutions and other contract manufacturing.