Etrio, India’s fastest growing electric vehicle (EV) startup with an aim of electrifying intra city movement announced its foray into the B2C space by establishing dealerships in six states. This move is part of its strategy to expand across the country with its unique EV dealerships. Currently, the company has dealers in Delhi, UP, Haryana, Karnataka, Madhya Pradesh and Orissa.
Etrio plans to further strengthen its presence in the country by opening outlets in over 15 states by the end of this financial year. As part of this plan, the company will strengthen its presence in the southern states of Andhra Pradesh, Telangana, Tamil Nadu, Kerala and also enter Rajasthan, Gujarat, Maharashtra, Bihar, and West Bengal, thereby deepening its presence in existing states.The primary product line will be the electric three wheeler range of Touro across both cargo and passenger segments. Also on the anvil are plans to launch new products in the three wheeler (3Wh) category and enter the electric four wheeler LCV segment with a one tonne offering.
The three wheeler passenger market, which has been affected greatly by restricted movement owing to the pandemic and urban lockdowns, is expected to revive once there is a demand surge. Moreover, the growth of intra-city movement is primarily led by demand in the e-commerce last mile logistics category. Towards meeting this demand, Etrio is working extensively on the ground with their dealers and stakeholders including financiers, charging infrastructure players among others to build an EV ecosystem in the country.
Etrio’s dealer-partner philosophy centers around building a strong entrepreneur network. Etrio consciously selects the right entrepreneurs to associate with, trains them and jointly builds demand and drives customer delight. Dealership viability is Etrio’s primary focus and the company enables dealers to the shortest path to profitability. This is possible by creating a mix of healthy dealer margin, optimal inventory levels and overheads, strong incentives structures and an exclusive right over a large geography to scale up.
Commenting on the announcement, Deepak MV, Co-founder & CEO, Etrio said, “Etrio has always aimed at making a remarkable and sustainable presence. Our constant focus is innovation and efficiency of our product. This dealership presence is in line with our fundamental belief that the real EV adoption would only happen once a typical driver owner sees the three wheeler EVs as the preferred option over conventional fuel alternatives. With the battle for total cost of ownership in the 3Wh is being won by the EVs, it’s time to build a formidable presence on the ground, create awareness and bring the real 3Wh customer into the EV fold. For this to happen, the most important role shall be played by our dealers. We at Etrio are in for the long haul and are focused on building a national footprint in a phased manner. Over this financial year, we are going to expand in select states and focus on Tier-II cities besides the prominent metros.”
Etrio currently has tie-ups with two leading NBFCs and are looking at adding more to this list. The company is also planning to open Etrio experience centres at select cities across the country.