Homegrown automaker Mahindra and Mahindra has ventured into the e-rickshaw segment and is confident of capturing a major share of the segment. Mahindra has launched its first e-rickshaw ‘e-Alfa Mini’. Until now, the e-rickshaw segment has been dominated by some of the unorganised and local players in the market.
Mahindra & Mahindra ventures into e-rickshaw segment
Automaker Mahindra & Mahindra has recently launched its first e-rickshaw. By venturing in the e-rickshaw segment, Mahindra has become the first organised player in the country. Till now, this unorganised segment was primarily dominated by unorganised players, and, with the launch of ‘e-Alfa Mini’ Mahindra has become the first player in the segment which is organised and carries with it a rich legacy.
After launching the e-rickshaw in India, the automaker is now looking at capturing a major share in the market. As per the report, Mahindra & Mahindra has launched the e-rickshaw ‘e-Alfa Mini’ at a price of Rs. 1,27,000. Mahindra has reserved the price of the e-rickshaw for the Bengal market. It is worth mentioning here that with local variants of e-rickshaw that already exist in the market and are priced between Rs. 75,000 to Rs. 100,000, the competition will be tough for the automaker.
Mahindra to offer better warranty and after sales services
According to the company spokesperson, with the experience, expertise and legacy in the automotive industry, it will be easy for Mahindra to offer better products to the consumers. Effective after sales services and easy financing options will further help the homegrown automaker to expand to other parts of the country in the e-rickshaw segment.
With these features, along with the tried and tested brand name, Mahindra is sure of getting a good take off in the e-rickshaw segmen in India.
Facts and figures of the e-rickshaw segment
As per the report, about 6,500 to 10,100 e-rickshaws are sold every month across the country. Mahindra & Mahindra has already launched the e-rickshaw ‘e-Alfa Mini’ in the national capital Delhi apart from Lucknow and Bengal. The company plans to launch the e-rickshaw in seven to eight more markets within this financial year.
The small commercial vehicle space is huge in India and currently, Mahindra & Mahindra occupies about 30 per cent market share in this space. The segment includes both three-wheelers as well as four wheelers.
Source: The Hindu Business Line