M&M to expand footprint in Rs1,000 crore e-rickshaw market

Mahindra & Mahindra (M&M) on Monday said it will expand its footprint across major cities in the country to penetrate deeper into the e-rickshaw market, which is estimated at Rs1,000 crore annually.

“We have launched e-Alfa Mini in Delhi, Lucknow and today in Kolkata, to tap the e-rickshaw market. We will expand in more cities across the country. Already, we have decided to expand to seven-eight more cities,” M&M vice-president, marketing (commercial vehicles) Mahesh Kulkarni said. Kulkarni said that the e-Alfa Mini will compete in the 7,000-10,000 e-rickshaws per month market in the country.

In value terms, the e-three wheeler market in the country is estimated at around Rs1,000 crore. The market size in West Bengal is estimated at 10% of the national sales. The company aims to retain a strong position in the small commercial vehicle market (below 3.5 tonnes).

Kulkarni claimed M&M has a 30% market share in the small commercial vehicles market. The company already has electric three-wheelers, passenger vehicles, and small commercial vehicles while the launch of commercial buses has been lined up.

Kulkarni also invited the unorganized local players who sell assembled e-rickshaws at prices 25-30% lower to buy from organized manufacturers.

Source- Mint