STOCKWATCH

Gensol Engineering Ltd Withdraws Proposed Asset Takeover by Refex Green Mobility Limited

Gensol Engineering Limited and Refex Green Mobility Limited (RGML) have decided not to proceed with the proposed transaction for the takeover of 2,997 electric vehicles (EVs) from Gensol. The decision comes due to evolving commitments at both ends that would make it challenging to conclude the transaction within the originally envisaged timeline. Gensol Engineering Limited, established in 2012, is a leading renewable energy company specializing in solar power EPC services and electric mobility solutions with a track record of over 770 MW solar projects and an advanced EV manufacturing facility in Pune.

• Gensol Engineering Limited and Refex Green Mobility Limited have decided not to proceed with the proposed asset takeover of 2,997 electric vehicles.
• The decision is due to evolving commitments at both ends, making it challenging to conclude the transaction within the original timeline.
• Gensol Engineering Limited is a leading renewable energy company specializing in solar power EPC services and electric mobility solutions.
• The company has a track record of over 770 MW solar projects and an advanced EV manufacturing facility in Pune.