Etrio, a maker of electric vehicles (EV), announced on Wednesday that it wants to enter the electric four-wheeler light commercial vehicle (LCV) category and introduce new three-wheeler models.

In addition to opening dealerships in six states, Etrio announced its entry into the B2B industry with a pan-India dealership network to encourage three-wheeler usage. Dealers are currently located in Delhi, Uttar Pradesh, Haryana, Karnataka, Madhya Pradesh, and Odisha.

The three-wheeler passenger industry, which has been severely hampered by the Coronavirus and urban lockdowns, is anticipated to rebound once demand picks up, according to Etrio. The demand in the e-commerce last-mile logistics area is driving intra-city mobility growth. To fulfil this need, Etrio is collaborating intensively on the ground with dealers and other stakeholders, including financiers and charging infrastructure providers, to create an electric vehicle (EV) ecosystem in the country, according to the company. By the end of this fiscal year, Etrio intends to expand its influence in the country by opening branches in over 15 states.

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 company said. “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 category and enter the electric four-wheeler LCV segment with a one tonne offering,” Etrio said. 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,” said Deepak MV, Co-founder, and CEO, Etrio.

“With the battle for a total cost of ownership in the three-wheeler space being won by the EVs, it's time to build a formidable presence on the ground, create awareness and bring the real customer in this space into the EV fold. For this to happen, the most important role shall be played by our dealers,” he said. “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,” he added.

It added that the company's principal product line would be the Touro electric three-wheeler range, which will be available in both cargo and passenger segments, and that dealership viability is the company's key priority, allowing them to take the shortest path to profitability. This may be accomplished by combining a healthy dealer margin, ideal inventory levels and overheads, robust incentive structures, and an exclusive right to build up throughout a vast geographic area, according to the company. Etrio has partnerships with two major NBFCs and is trying to expand this list. The EV manufacturer also plans to create Etrio experience centres in a number of cities across the country, according to the company.