Overview
- Strategic Acquisition: Ahmedabad-based A-1 Limited (formerly A-1 Acid Limited) acquires a 6% additional stake in A-1 Sureja Industries, securing 51% majority control.
- EV Focus: Sureja Industries, valued at ₹100 crore, manufactures battery-operated two-wheelers and EVs, including the ARAI-approved Hurry-E Electric Motorcycle.
- Market Entry: A-1 Limited becomes one of India’s first listed chemical firms to lead in EV manufacturing, transitioning from chemicals and logistics.
- Growth Projections: Sureja eyes >250% CAGR, targeting ₹75,000–₹1.4 lakh segment for personal and fleet use in quick-commerce and bike-taxi markets.
- Innovation Edge: Sureja’s patent-protected EV design is valid till 2028; shifting from R&D to full commercial operations.
- Community Ties: Both companies share Ahmedabad roots, blending A-1’s logistics expertise with Sureja’s clean tech.
- Sustainability Goal: Aligns with India’s 6% EV adoption (2.5M sales in 2025), supporting PM E-Drive’s 72,000 charger push and 30% goal by 2030.
A-1 Limited’s EV Leap: Majority Stake in Sureja Industries Fuels India’s Clean Ride Revolution
A-1 Limited, the Ahmedabad-headquartered chemicals and logistics powerhouse formerly known as A-1 Acid Limited, is accelerating into India’s electric vehicle (EV) sector with a majority stake acquisition in A-1 Sureja Industries. By snapping up an additional 6% stake, A-1 now controls 51% of the EV manufacturer, valued at ₹100 crore, marking it as one of India’s pioneering listed chemical companies to helm clean mobility. This move blends A-1’s industrial know-how with Sureja’s innovative two-wheeler EVs, targeting the booming ₹75,000–₹1.4 lakh segment for personal commuters and fleet operators in quick-commerce and bike-taxi services.
The Deal: Majority Control, Minority Risk
The acquisition solidifies A-1’s pivot from traditional chemicals to sustainable tech, leveraging its logistics and safety expertise to support EV growth. Sureja Industries, also Ahmedabad-based, specializes in battery-operated two-wheelers and EVs, with its flagship Hurry-E Electric Motorcycle ARAI-approved and ready for market. The patent-protected design, valid until 2028, positions Sureja for a staggering >250% CAGR as it shifts from R&D to full commercial rollout.
“This diversification reflects A-1 Limited’s commitment to sustainability, innovation, and long-term value creation,” said Anant Patel, Director of A-1 Limited. “With our experience in chemical logistics, safety systems, and industrial compliance, we are uniquely positioned to support clean mobility and contribute to India’s green future.”
Sureja’s Spotlight: Hurry-E Leads the Charge
Sureja’s portfolio centers on affordable, efficient EVs tailored for urban India, where 6% penetration now (up from 0.01% in 2014-15) signals a tipping point. The Hurry-E, with its compact design and robust range, targets quick-commerce fleets and bike-taxis, reducing emissions by 50-70% vs. petrol scooters. As India eyes 2.5M EV sales in 2025 and 30% by 2030, Sureja’s focus on two-wheelers—80% of EV market—aligns with PM E-Drive’s ₹10,000 crore charger push and FAME-III incentives.
Shared Roots, Shared Vision
Both companies hail from Ahmedabad, fostering seamless synergy. A-1’s supply chain prowess will streamline Sureja’s production, while Sureja’s tech innovation injects green vitality into A-1’s portfolio. This acquisition counters global challenges like China’s rare earth curbs, promoting self-reliance via PLI schemes for batteries and motors.
Market Momentum: EVs Take the Wheel
India’s EV boom—1.2M sold last year—demands scalable, affordable options. Sureja’s >250% CAGR projection taps this, rivaling Tata’s Tiago EV and MG Comet. With Karnataka’s 1,500 charger plan and Pune’s 22 stations, the timing is ripe for Sureja’s commercial launch.
A Greener Horizon
A-1’s EV entry isn’t just business—it’s a pledge to India’s sustainable future. As Patel noted, “We blend logistics with clean tech to drive connections.” With 30,000+ chargers (half offline), partnerships like this could bridge gaps, leading India’s mobility revolution.
Source: auto.economictimes.indiatimes.com
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