e-Ashwa Automotive, a manufacturer of electric two-wheelers and electric three-wheelers has reported three times its retail footprint growth in the past four months, with 700 multi-brand EV dealership stores. In a statement, the company said that it saw encouraging four-digit sales growth in the October to December 2021 quarter, with 3,624 units, compared to 888 units sold in the previous quarter, during July to September 2021. The overall sales volumes include both electric two-wheelers and electric three-wheelers, the company said in the statement.
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In 2021, e-Ashwa not just reported strong sales numbers and expanded its dealership network, but also launched its own branded products in the market. Earlier, e-Ashwa started its electric two-wheeler journey by selling products of other companies through its retail network. Through its owned and franchisee EV dealerships, e-Ashwa selss a wide range of products catering to both business-to-business (B2B) and business-to-consumer (B2C) segments. From e-scooters, e-rickshaws to electric auto loaders, the company has been steadily growing and catering to changing market needs, it said.
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e-Ashwa has announced as many as 12 new low-speed electric scooters
"In the new scenario of the Covid pandemic and regular increase in fuel prices, consumers have become environmentally-conscious and shifting towards electric vehicles. While we reached our first 200 dealership stores in close to two years, it took us just 4 months for the next 500 stores. We opened the first dealer store in August 2019, the 200th store in August 2021 and the 700th store in December 2021. This shows the significant demand shift towards our electric vehicles coupled with our established consumer trust, launch of our own EV brand and favourable government schemes towards EV," said Vikas Gupta, Founder and CEO, e-Ashwa Automotive Private Limited.
The company has expanded its dealership network with more than 500 dealerships across India over the period of a year.
e-Ashwa was established in February 2018, and the company has reported record revenue growth of almost 10-times in December 2021, compared to December 2020. For the last two years, e-Ashwa has been selling EV products in the market of other brands in the electric two-wheeler segment and its own brand for electric three-wheelers. The company has recently set up a manufacturing facility in Ghaziabad with more than 150 team members, including research and technical personnel. The company has sold over 6,000 EVs till date which include electric scooters, electric motorcycles, e-rickshaws, e-auto loaders, e-food cart and e-garbage vehicles.
