E2W Startup Vegh Automobiles To Open 100 Retail Stores

E2W start-up, Vegh Automobiles is set to open more than 100 retail stores across 12 states/UT by the end of the fiscal year 23-24.

Presently, Vegh has a 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. The company is in discussions with distributors and dealers to strengthen and expand its network across these states.

Commenting on the company's expansion plans, Pragya Goyal, CEO of Vegh, said “We have recently raised $5 million in funding, which will play a crucial role in fuelling the company's ambitious expansion plans. 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 will unveil two new high-speed scooter models. 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's manufacturing unit in Bathinda, Punjab, has a production capacity of 60,000 units.