STOCKWATCH

Refex Green Mobility to Acquire Gensol's 2,997 EVs in Strategic Tie-up

Gensol Engineering Limited and Refex Green Mobility Limited have announced a strategic tie-up for the transfer of 2,997 electric four-wheelers. This move is aimed at strengthening sustainable mobility solutions in India. Refex eVeelz will assume Gensol’s existing loan facility of nearly INR 315 Crore, streamline operations, and enhance the deployment of e4Ws across key markets. The vehicles will then be leased to Blu-Smart Mobility Limited, ensuring continuity and growth in the electric mobility sector. The transaction is subject to regulatory approvals.

• Refex Green Mobility to acquire 2,997 electric four-wheelers from Gensol
• Refex eVeelz to assume Gensol’s existing loan facility of nearly INR 315 Crore
• Enhancement of e4Ws deployment across key markets
• Leasing of vehicles to Blu-Smart Mobility Limited
• Subject to regulatory approvals