After making preliminary moves in stainless steel bus bodies, railway coaches and wagons, Jindal Stainless is now eyeing for big-ticket opportunity in the fast growing e-rickshaw segment. According to a recent company release, Jindal Stainless is in talks with manufacturers to facilitate roll out of stainless steel electric rickshaws (E-rickshaws) and targeting a 25% share of the total E-rickshaw market in India over the next two years fetching estimated revenue of Rs 200 crore.
“Indian E-vehicle market will be one of the biggest in the world and we are ready to enhance the value and efficiency of these E-vehicles with sustainable stainless steel body constituents. Considering the market potential that Uttar Pradesh has to offer, the state will be one of our key focus areas. We will extend our full support to E-rickshaw manufacturers in designing and developing stainless steel models that are affordable, high on RoI, and user-friendly. Our sales and technical teams across India will associate with E-rickshaw dealers and manufacturers for seamless production of this environment-friendly vehicle. Continued government subsidies will enable faster adoption and will speed up market growth,” Abhyuday Jindal, MD, Jindal Stainless, commented.
Jindal Stainless has developed the first stainless steel E-rickshaw prototype which it claims to have a superior body and chassis performance as compared to carbon steel E-rickshaws.