The Startup EV -based in Bangalore, River EV, has reported an income of ₹ 100 million rupees for fiscal year 2015, and prepares for an aggressive expansion nationwide over next year.
The company sold about 5,000 scooters last year, which made it among the main Evo Wheeler companies in the country in terms of sales. In March, Bajaj led the EV-2W sales with 35,931 units, followed by TVS Motor (32,302), Ola (23,804) and Ather (16,587), according to VAHAN data.
They currently operate 25 stores in six southern states, River plans to expand its footprint significantly by 2026. In northern India, it aims to open 20 points of sale in Madhya Pradesh, Delhi, Rajasthan and Punjab at the end of the current prosecutor. In addition, it plans to establish 25 stores in Maharashtra and Gujarat, and 11 more in the eastern states, including Odisha, Western Bengal, Chhattisgarh, Bihar, Jharkhand and Assam. In southern India, the company addresses its retail presence at 60 stores in March 2026.
Commenting on retail expansion, Arvind Man, CEO and co -founder, River, he said Business line That the company’s expansion plans have followed a very structured approach. “We have a very deliberate bone to obtain the correct retail format: we will open an output unless there is a fully functional service center. That is our approach to Bangalore, Kerala, everywhere,” he said.
The company is also planning an international expansion with plans to enter Sri Lanka at the end of this calendar year. However, Mani emphasized a cautious perspective in exports, noting that international lower volume performance markets. “India is still the main opportunity for now,” he said.
(Report presented by Bl Internal Rohan das)
Posted on April 24, 2025