Saera Electric Auto Expects 100% Jump In Turnover To Clock Rs 320 Cr This Fiscal
Saera Electric Auto (SEAPL), is expecting 2X growth in turnover by the end of FY 22-23. In the last fiscal, SEAPL stood at 152 crore, but it has already crossed the 182 crore mark in the first two-quarters of the current fiscal. Following this rate, Saera Electric is inching towards a 100 per cent growth in annual turnover, i.e., Rs 320 crore by March 2023.
SEAPL manufactures popular low-speed e-scooters with the brand Yogo Bikes. All the electric vehicles manufactured by SEAPL are designed and assembled using cutting-edge technologies prevalent in the industry.
“When planning is followed by perfect execution, decisions accrue results. After two years of a volatile market, the automobile industry is re-experiencing the sunny days, and electric vehicles are the main drivers of this much-awaited growth. We were also waiting for the right time to kick-start SEAPL’s expansion spree and made some rewarding decisions by adding on the company’s production capacity," said Nitin Kapoor, Managing Director, Saera Electric Auto.
“We have also signed a Contract Manufacturing Agreement with LML Electric, and under this agreement, SEAPL will manufacture vehicles for LML Electric’s upcoming Electric two-wheelers we expect production to start early next year,” added Kapoor.
SEAPL so far have three plants in Bawal, Kosi and Bhiwadi
The primary operation of Saera is assembling and manufacturing cleaner and greener electric L 3 category vehicles (e-rickshaw and e-cart loader) and electric 2W low-speed vehicles, making the company emerge as one the leading players in the industry.
