Mumbai
Owing to the fundamental shift towards a new competitive landscape, Evolet India, a Gurugram-based startup, is setting up its distributorship and dealership network for its range of electric vehicles models in Maharashtra region. It has recently unveiled its showroom in Mumbai.
The key cities identified for dealerships and distributorship in Maharashtra includes Mumbai, Pune, Nasik, Nagpur, Aurangabad, Satara, Kohlapur and Jalgaon.
The company envisages launching 20 dealerships by March 2020 with target sales of around 150 units per month per dealer.
Prerana Chaturvedi, Executive Director & CEO, Evolet, said, “The electric bike market is hotting up in the India’s second largest two wheeler market, with government giving push in the right direction for scalability of cleaner transport policy. Further technological advancements, investments in infrastructure and increasing consumer awareness are driving EV adoption in the state. The electric vehicle industry comprises just 1 per cent of the total vehicle sales and is dominated by two-wheeler segment in Maharashtra. This presents a good business opportunity for those who want to open electric two wheeler showrooms."
Evolet plans to expand its dealership network in Maharashtra by adding around 5-6 dealerships per month from FY 2020-21. The company is focusing on the cities where the two-wheeler traction is maximum with an intention to move up its sales target of 1000 units a month by the end of this FY.
Evolet has allocated around 13-15 per cent of gross revenue for marketing and promotions. Beyond this dealer would be getting the extra benefits through the incentive schemes run by the company. After sales service, spare parts and accessories business is another revenue centre for the dealer. Apart from dealership network, Evolet is also targeting institutional sales and corporate sales to widen its domestic base. It launched its products in standard segment targeting riders of all age groups. Beyond this future launches will include models for executives and premium segments too.
“In line with our objective to establish a nationwide presence, our electric-scooter venture, Evolet aims to open 100 plus dealerships across India by March, 2020. We are aggressively charting our plan and are targeting sales of around 150 units per month per dealership. We have finalized our dealerships in the states of Maharashtra, Telangana, Tamil Nadu, Gujarat, Madhya Pradesh, Uttar Pradesh, Bihar, Punjab, Chandigarh, Haryana, Rajasthan besides Nepal and Bangladesh, the showrooms of which will come up by March 2020,” added Chaturvedi.
Evolet has also identified key exports markets within Asia Pacific and the Middle East region and plans to start exporting of its products by 2020.
Evolet is making investments in phased manner and have allocated budget of approx. Rs 150 crore for its two wheeler division and Rs 300 crore for the E-Bus division to support its pan India operations and production.