Refex Industries Limited — Updates, 28-03-2025: Press Release

Refex Green Mobility Limited has updated that it will not proceed with the proposed asset takeover of 2,997 electric vehicles from Gensol Engineering Limited. This decision follows constructive discussions, with both parties recognizing the evolving commitments that made it difficult to finalize the transaction within the initially planned timeline. Refex expressed appreciation for the collaborative engagement with Gensol and reiterated its dedication to responsible operations and long-term value creation. Stakeholders are encouraged to stay connected as the company continues advancing its sustainability initiatives in the electric mobility sector.