Saera Electric Auto revealed its plan to expand its dealership network in the country while providing a wide service area for its product range including electric rickshaws, e-carts, e-LCVs, and more.
Key Highlights
- Mayuri e-Rickshaws has made an expansion plan to strengthen its nationwide dealership network and better stronghold in the market of electric rickshaws.
- By the end of the fiscal year, Saera Electric Auto aims to have over 1200 showrooms and 500 more dealerships in addition to currently 700 dealerships.
- Mayuri wants to capture a 10 percent market share, which is a respectable rise from the 6 percent it held in its category during the fiscal year 2023-2024.
One of India’s biggest and leading electric vehicle manufacturers, Mayuri e-Rickshaws, the flagship brand of Saera Electric, has disclosed plans to grow and intensify its dealership network throughout the nation to bolster its position and provide a more comprehensive and expansive service area for its electric rickshaws.
Saera Electric Auto currently operates over 700 dealerships and plans to have over 1200 showrooms and 500 additional dealerships by the end of the fiscal year. By accepting the new dealership applications, the brand’s expansion is a strategic move to address the increasing demand from customers throughout India.
Related Link: Top 5 Saera Electric 3-Wheelers For Sustainable Last Mile Connectivity
Saera Electric Sets Target For Financial Year 2024
To help Saera meet its ambitious goal of achieving 50,000 retail units by the end of the fiscal year, an aggressive expansion plan has been implemented. Compared to its retail sales volumes of over 33,000 units in the previous fiscal year, the company’s growth target represents a significant leap.
Mayuri aims to take a 10 percent market share, which is a healthy increase from its 6 percent market share in its category in the financial year 2023-24. The company reports that it is well on track to meet its defined goals, noting that Q1 FY24-25 (first quarter of the financial year 2024-25) sales increased by 50 percent to over 10,500 units from 7,000 units sold in Q1 FY23-24.
Official Statement By Saera Electric Auto
Introducing the expansion plan, Nitin Kapoor, MD, Saera Electric Auto, expressed, “As the Indian EV market grows, the demand for electric 3-wheelers (E3Ws) grows with it. The applications of E3Ws today are far more diverse, and cater to a wider range of consumers, and with the ever-evolving technology advancements, the value for money derived from these vehicles is at an all-time high.
He further added, “The expansion is part of our growth strategy, but the core of it remains the growing need of consumers and businesses and our efforts to offer them the best in the market. Mayuri is India’s first e-rickshaw company and since its inception, it has offered industry-leading technology solutions, several industry-first features, superior quality and performance, and aided in providing livelihood opportunities to millions of Indians.”
“Our focus on innovation and sustainability has positioned us as a market leader and we have taken measures right from our R&D cell to our supply chain, our service network to our assembly line to ensure continuity delivering on our promise to all partners and customers,” he said.
Bottomline
Saera’s strategic growth objectives and ongoing innovation are in line with the target of the Indian government of advancing sustainability and electric mobility throughout the country. With its increased market penetration and commitment to quality and customer service, the company is well-positioned to continue leading the electric 3-wheeler market.
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