Vegh Automobiles to open 100 retail stores by end of FY24

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.

Autocar Pro News Desk By Autocar Pro News Desk calendar 08 Aug 2023 Views icon3983 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Vegh Automobiles to open 100 retail stores by end of FY24

EV Start-up Vegh Automobiles aims to open more than 100 retail stores across 12 states/UT by end of March 2024.

Presently, Vegh has a significant 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. It is already in advanced discussions with leading distributors and dealers to strengthen and expand its network across these states.

Commenting on the company’s expansion plans, Pragya Goyal, CEO of Vegh, “We have recently raised US$ 5 million in funding, which will play a crucial role in fuelling the company’s ambitious expansion plans. The opening of 100+ retail stores in key states marks a significant milestone for Vegh, bringing us closer to our customers and expanding our reach to a broader audience.

The fresh injection of capital will be allocated toward strengthening the company’s sales and service network, accelerating research and development efforts. 

With a cutting-edge manufacturing unit in Bathinda, Punjab, boasting a production capacity of 60,000 units, Vegh is strategically poised to scale up operations and meet escalating demand for its premium electric vehicles, the press release noted. 

RELATED ARTICLES
A tour of Tata Motors' crash test facility in Pune

auther Autocar Pro News Desk calendar03 Mar 2024

A behind the scenes look at how the company conducts crash tests internally and how safety aspects are incorporated righ...

Centre-Maha fuse solar with EV wave; plan to expand PM Suryoday scheme in state

auther Autocar Pro News Desk calendar02 Mar 2024

Through the Solar2EV Project for Social Justice, the governments hope to register 2 lakh electric vehicles in Maharashtr...

Tesla Roadster set to hit 96kph in under 1 second, reveals Musk

auther Autocar Pro News Desk calendar02 Mar 2024

The production-spec Tesla Roadster is set to be unveiled later this year, with initial deliveries scheduled to begin in ...