Kolkata, Exide Industries Ltd, the country’s largest stored energy solutions provider, announced its entry into India’s burgeoning e-rickshaw market by launching its first model on Wednesday.
The state-of-the-art e-vehicle is being launched in select markets in India and will be available through its exclusive network of dealers, said Exide Managing Director and Chief Executive Officer Gautam Chatterjee.
The model Exide Neo will be sold in markets such as Uttar Pradesh, West Bengal, the North East and the National Capital region, he said.
The company has come up with an assembly line that has an annual capacity of 15,000 units in Hooghly district’s Dankuni.
The company has fixed a sales target of 10,000 units, and expects the new vertical to add nearly Rs 120 crore to its topline in fiscal 2020-2021.
“We see a tremendous opportunity to now offer a complete, technologically advanced package to the e-rickshaw operator that will be reliable with the least downtime,” he said.
“Having worked with e-rickshaw operators for a long time, we used the experience and knowledge to design the most suitable vehicle for the Indian conditions that would offer an enhanced and completely packaged solution to customers,” said company’s Director, Automotive, Arun Mittal.
