e-Ashwa Automotive, one of the leading and fastest-growing EV manufacturers, begins new year 2022 with 3X growth in 4 months with 700 multi-brand EV dealership stores. Owing to festive seasons and opening of market post-second wave, the company also saw encouraging 4-digit sales growth in October to December 2021 quarter cycle with 3624 units as compared to 888 units sold in the previous quarter July-September 2021. This includes both, electric 2-wheelers and 3-wheelers.
2021 has been the best year for e-Ashwa Automotive with not only from the dealership and sales point of view but also from launching its own branded EV products in the market for the first time, thereby strengthening its leadership position in the fast-growing EV market in the country. Earlier, e-Ashwa started its 2Wheeler journey by selling products of other companies through its wide retail network.
Through its owned and franchisee EV dealership, e-Ashwa sells wide range of products catering to both B2B and B2C segments. From e-scooters, e-rickshaw, e-auto to e-loaders, the company has been steadily growing and catering to the changing market needs.
Speaking on achieve these milestones in 2021 and last quarter performance, Vikas Gupta, Founder & CEO, e-Ashwa Automotive Private Limited, said, “In the new scenario of Covid pandemic & 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 2 years, it took us just 4 months for the next 500 stores. We opened the first dealer store in August 2019, 200th store in August 2021 and 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.”
Established in February 2018, e-Ashwa Automotive strengthens its position as a market leader in both E-2W and E-3W segments, with brand reporting a record growth of almost 10x revenue growth in December 2021 as compared to December 2020. Month-on-month increase in dealership and sales can be attributed to e-Ashwa’s own EV brand for e2W & e3W segments, which is a testimony of customer’s trust & faith in the brand. It’s fast-growing retail expansion with complete life cycle support for affordable & reliable rides, is making it a preferred choice across varied customer segments.
For the last 2 years, e-Ashwa has been selling EV products in the market of other available brands for 2Wheeler segment under strategic tie-up with them and under its own brand e- Ashwa for 3Wheeler segment and has recently setup its state-of-the-art manufacturing facility in Ghaziabad with 150+ team members from research & technical background. Till date it has sold over 6000 EV products under different categories – e-scooters, e-motorbikes, e- rickshaws, e-auto, e-loaders, e-food cart to e-garbage vehicles.