Refex Green Mobility and Gensol Engineering Update on Proposed Asset Takeover of 2,997 Electric Vehicle Assets
Refex Green Mobility Limited (RGML) and Gensol Engineering Limited (Gensol) are addressing recent media speculation regarding the proposed sale of 2,997 electric vehicle (EV) assets by Gensol to RGML. The companies had entered into a tie-up for the takeover of assets, subject to necessary regulatory and financial approvals, and are currently conducting a comprehensive evaluation covering financial, legal, and operational aspects. Gensol has been cooperative in providing all required documentation and clarifications. The transaction has not yet been concluded, and the EV assets remain the property of Gensol, operating on the BluSmart platform. Both RGML and Gensol are committed to ensuring complete transparency, regulatory compliance, and strategic alignment throughout the process.
Key Highlights
- Refex Green Mobility Limited and Gensol Engineering Limited are in the process of proposing an asset takeover of 2,997 electric vehicle assets.
- The proposed takeover is subject to necessary regulatory and financial approvals, and both companies are currently conducting a comprehensive evaluation of the transaction.
- Gensol Engineering Limited has been cooperative in providing all required documentation and clarifications for the proposed takeover.
- The electric vehicle assets remain the property of Gensol and continue to operate on the BluSmart platform until the transaction is completed.
- Both Refex Green Mobility Limited and Gensol Engineering Limited are committed to ensuring complete transparency, regulatory compliance, and strategic alignment throughout the process.