EV maker Etrio on Wednesday said it is looking to enter the electric four-wheeler light commercial vehicle (LCV) category, and plans to launch new products in the three-wheeler category. The company also announced its foray in the B2C segment with pan-India dealership network to increase adoption of three-wheelers besides opening dealerships in six states, Etrio said in a release.
Currently, the company has dealers in Delhi, UP, Haryana, Karnataka, Madhya Pradesh and Odisha. The three-wheeler passenger market, which has been affected greatly by restricted movement owing to the pandemic and urban lockdowns, is expected to revive once there is a demand surge, Etrio said.
Moreover, the growth of intra-city movement is primarily led by demand in the e-commerce last mile logistics category. Towards meeting this demand, Etrio is working extensively on the ground with their dealers and stakeholders including financiers, charging infrastructure players, among others, to build an electric vehicle (EV) ecosystem in the country, it said Etrio plans to further strengthen its presence in the country by opening outlets in over 15 states by the end of this financial year.
As part of this plan, the company will strengthen its presence in the southern states of Andhra Pradesh, Telangana, Tamil Nadu, Kerala and also enter Rajasthan, Gujarat, Maharashtra, Bihar, and West Bengal, thereby deepening its presence in existing states, the company said. The primary product line will be the electric three-wheeler range of Touro across both cargo and passenger segments. Also, on the anvil are plans to launch new products in the three-wheeler category and enter the electric four wheeler LCV segment with a one tonne offering, Etrio said.
This dealership presence is in line with our fundamental belief that the real EV adoption would only happen once a typical driver owner sees the three wheeler EVs as the preferred option over conventional fuel alternatives, said Deepak MV, co-founder and CEO, Etrio. With the battle for total cost of ownership in the three wheeler space being won by the EVs, it’s time to build a formidable presence on the ground, create awareness and bring the real customer in this space into the EV fold. For this to happen, the most important role shall be played by our dealers, he said.
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We at Etrio are in for the long haul and are focused on building a national footprint in a phased manner. Over this financial year, we are going to expand in select states and focus on tier-II cities besides the prominent metros, he added. It said the primary product line will be the electric three wheeler range of Touro across both cargo and passenger segments, adding that dealership viability is company’s Etrio’s primary focus and it enables them to the shortest path to profitability.
This is possible by creating a mix of healthy dealer margin, optimal inventory levels and overheads, strong incentives structures and an exclusive right over a large geography to scale up, it said. Etrio currently has tie-ups with two leading NBFCs and it is looking at adding more to this list. The company is also planning to open Etrio experience centres at select cities across the country, the EV maker said.
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