Press Release
Exide enters e-rickshaw businessOctober 16, 2019
- Launches Exide Neo - a state-of-the-art electric vehicle
- Available through exclusive network of dealers in select markets
Kolkata, 16th October 2019: Exide Industries Ltd, the country's largest stored energy solutions provider, announced its entry into the burgeoning e-rickshaw market of India by launching its first model branded "Exide Neo". The state-of-the-art e-vehicle is being launched in select markets in India and will be available through its exclusive network of dealers. The marketing and service network for the new product has been already put in place in select markets. Exide Neo will be gradually introduced across the country in a phased manner.
"The e-rickshaw category has seen phenomenal growth in India in the last few years and we have been an integral part of it since inception, through our offerings of robust lead acid batteries. We see a tremendous opportunity to now offer a complete, technologically advanced package to the e-rickshaw operator that will be reliable with the least downtime," said Mr Gautam Chatterjee, MD & CEO of Exide Industries Ltd.
Exide Neo offers superior technology, longer runs and a comfortable ride, packed into the modern look and feel of an international product. Assurance of Exide's backbone of quality service network comes as a bonus for the Neo operator, assuring peace of mind.
"The e-rickshaw market, despite its exponential growth has been plagued by the absence of a large organized sector player. This has led to inferior quality, unreliable products, leading to long down time for the operators which often make it unviable for them. Through our entry into this space we wish to bring the strength of a very large organization and its huge network to benefit the operator" said Mr Subir Chakraborty, Deputy Managing Director, Exide Industries Ltd.
Through its tailor made, dedicated batteries for the e-rickshaw market, Exide is one of the first branded battery makers that has brought a product exclusively for this sector. Over a short period of time Exide has consolidated its reputation for being a reliable name in this segment offering multiple choices to the customer in both Tubular and Flat Plate technologies. Through this forward integration initiative, Exide now completes the circle.
"Having worked with e-rickshaw operators for a long time, we used the experience and knowledge to design the most suitable vehicle for the Indian conditions that would offer an enhanced and completely packaged solution to customers. Features like the Rear View Camera, LCD Instrumentation Panel and critical safety enhancement features like ABS roofing and high quality Steel reinforced Front panel have been incorporated in Exide Neo," said Mr Arun Mittal, Director Automotive.
