Keto Motors and Saera Electric JV to launch six new electric three-wheelers
Saera Keto EV outlines plans to launch a range of new e-rickshaws and e-autos in the next six months; JV targets sales in major metros, Tier 2 and 3 cities and plans an initial retail network of 100 dealers across the country.
The rapid growth in the Indian electric three-wheeler industry, which has seen sales of over 300,000 and 79% YoY growth in the first seven months of CY2023, is resulting in new market dynamics. The latest is the Telangana-based Keto Motors of the ETO Motors Group and Delhi-headquartered Saera Electric Auto partnering for a joint venture.
Called Saera Keto EV Pvt Ltd, the company aims to achieve synergistic gains by capitalising on the core strengths of each company. While Saera Electric, the third-ranked electric three-wheeler OEM (as per Vahan) in the January-July 2023 period, with its L3 range (e-rickshaws), Keto Motors is known for its L5 range (e-autos) for passenger- and cargo-transport applications.
The collaborative effort aims to produce high-speed electric passenger and cargo vehicles, manufactured at each other’s facilities in Telangana and Haryana. The two OEMs have outlined plans to launch six new, competitively priced products within six months, which means early January 2024.
Saera Electric Auto’s plant is located at the erstwhile Harley-Davidson facility in Bawal, Haryana, with a current annual manufacturing capacity of 100,000 three-wheelers. Keto Motors’ plant is located at Jadcherla, Telangana, which also houses an R&D lab.
As per the company’s statement, the Saera Auto-branded e-three-wheelers will have fast-charge technology, a vehicle control unit and be high on safety and comfort for the driver and passengers alike.
As per the retail sales strategy, Saera Keto EV plans to have an initial network of over 100 dealers across India, which is projected to grow to 250 dealers within a year. This expansion strategy aims to ensure accessibility of L5 electric autos in major metros, Tier 2 and Tier 3 cities.
While Nitin Kapoor, founder and director of Saera Electric, expressed enthusiasm for the partnership, Dr Karthik Ponnapula, founder of Keto Motors, said: "The JV will be offering the largest product range of E3Ws in the industry with the launch of a comprehensive range of new products over the next few quarters catering to emerging market segments. These advanced technology products have been designed to synergise group verticals – ETO’s fleet management expertise and Trinity Cleantech's installation of EV charging infrastructure."
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