News & Insights | Textile Technology

Vegh Automobiles to open 100 retail stores; eyeing to penetrate in 12 states

Published: August 9, 2023
Author: TEXTILE VALUE CHAIN

New Delhi, 8 th August 2023 – EV Start-up Vegh Automobiles has announced its expansion plans in India. The company is set to open more than 100 retail stores across 12 states/UT by the end of the fiscal year 23-24 to accelerate its growth and establish a dominant presence in the electric mobility sector.

Presently, Vegh has a significant presence in the states of Uttar Pradesh, Jammu, West Bengal, Odisha, Punjab, Haryana, and Assam. In line with its Expansion Plan, the company is now setting its sights on penetrating the states of Delhi NCR, Rajasthan, Madhya Pradesh, Chhattisgarh and Chandigarh with a series of strategically positioned retail stores.

Vegh’s retail store expansion strategy encompasses both Company-owned and operated outlets, as well as Franchise-driven stores, showcasing the company’s dedication to catering to diverse market segments.  The company is already in advanced discussions with leading distributors and dealers to strengthen and expand its network across these states.

Commenting on the company’s expansion plans, Pragya Goyal, CEO of Vegh, “We have recently raised $5 million in funding, which will play a crucial role in fuelling the company’s ambitious expansion plans. The opening of 100+ retail stores in key states marks a significant milestone for Vegh, bringing us closer to our customers and expanding our reach to a broader audience. The fresh injection of capital will be allocated towards strengthening the company’s sales and service network, accelerating research and development efforts, and cementing Vegh’s position as a leading EV brand in India”.

In addition to expanding its retail presence, Vegh is all set to unveil two new high-speed scooter models, showcasing the brand’s commitment to cutting-edge technology and customer-centric innovation. The company also plans to upgrade its existing S60 and L25 models to penetrate deeper into the market and cater to a diverse range of consumer preferences.

Vegh is executing an ambitious expansion strategy to reinforce its commitment to sustainability. The company is actively establishing a robust dealer and distributor network in targeted states, enhancing customer access. Concurrently, Vegh is making significant strides in optimizing its after-sales network to ensure unrivalled brand loyalty and customer satisfaction.

With a cutting-edge manufacturing unit in Bathinda, Punjab, boasting a production capacity of 60,000 units, Vegh is strategically poised to scale up operations and meet escalating demand for its premium electric vehicles.

About Vegh Automobiles:
Vegh is one of the fastest growing two-wheeler e-scooter brand that was established in 2021. With an ambitious expansion strategy, Vegh aims to establish itself as a leading force in the electric vehicle (EV) industry and is driven by a clear mission to develop a sustainable mobility ecosystem. The company’s advanced manufacturing facility located in Bathinda, Punjab, has an impressive annual production capacity of 60,000 units and serves as its research and development hub. Vegh is leading the revolutionary headway of e-scooters for the generations of believers, doers and achievers who don’t give up.

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