Electric scooter maker firm River EV is on a high growth path, eyeing a huge retail expansion in India. From its existing 12 stores, the company is eyeing an expansion to 25 stores by March 2025 and a whopping 100 stores by March 2026. The high growth will establish River EV as a player to watch out for in India’s growing electric vehicle (EV) market.
From Startup to Challenger
Talking to CNBC-TV18, Aravind Mani, CEO and Co-Founder of River EV, highlighted the strategy of aggressive yet measured growth for the company. Laying out that River EV has already clocked nearly 5,000 vehicles in slightly more than a year, it is around 10th or 11th in India’s EV league. However, River EV is already in the top five in well-placed distribution centres like Bangalore.
“We began to sell about 12-15 months ago. We have retailed about 5,000 vehicles since then. We currently have 12 stores, and from these 12 stores, we sold close to 750 vehicles last month,” Mani mentioned.
River EV growth strategy is no numbers game, it’s a story of quality service with growth. Mani restated that each retail point will have one separate service centre.
“We do not open a sales point in any location without having a corresponding service centre, hence, there will be sustained growth,” he asserted.
By March 2025, River EV will operate 25 stores, with further expansion to hit 100 stores in 120 cities before its following product is launched, a utility scooter to add diversification to its portfolio.
Indie success and the road ahead
Today, the company’s flagship, Indie, has also gained the customer’s favour. “People have been enjoying the Indie. We are increasing gradually but consistently,” Mani clarified.
With its planned growth, robust distribution network, and customer satisfaction focus, River EV is well on its way to becoming a force to reckon with in India’s electric mobility revolution.
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