Mahindra and Mahindra Ltd is looking at capturing a major share in the e-rickshaw segment. The market is primarily dominated by unorganised and local players.
With the launch of its ‘e-Alfa Mini’, M&M becomes one of the first organised players to enter this segment. The e-Alfa Mini is priced at Rs 127,000 (for Bengal market); as compared to indigenous variants that are prices between Rs 75,000 and Rs 100,000.
According to Mahesh Kulkarni, Vice President, Commercial Brands Marketing, M&M – automotive sector, the company will bring in their expertise that include easy financing options; and after sales services. These added benefits; apart from the brand name is likely to see increased off take; apart from replacement sales.
“We are trying to create in a value chain which include warranty and after sales services too. Our financing too is more effective than those of the others catering to the unorganised players,” he told reporters on the sidelines of the launch.
According to market sources, some 7,000 to 10,000 e-rickshaws are sold every month nationally.
M&M, has launched its e-rickshaw in Delhi, Lucknow and Bengal and plans to launch it another seven to eight more markets within this fiscal.
The company currently occupies a 30 per cent market share in the small commercial vehicle space that include both three-wheelers and four wheelers. Nearly, 8.5 lakh such units are sold annually.