Panache Digilife is, listed on the NSE, was locked in 10% upper circuit at Rs 81.25 after the company announced that it has signed a Manufacture and Supply Agreement with Nashik based, Revamp Moto for EV Vehicles in the Indian Market.
Revamp Moto is a two year old start-up engaged in development of exceptionally reliable, adaptable, and connected Electric Vehicles based on its Modular Utility Platforms.
In this deal with Panache, Revamp Moto will be working on new product development (NPD), Research and Development (R&D), new technologies, and generating Ips. Panache in turn will focus on quality product assembly, process optimisation, and indigenisation of components which makes it foray in the Indian EV market.
No financial details of this deal were disclosed. Yet, for the market, “EV” is a magic word and that explains the UC.