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 Professional BureauBy Autocar Professional Bureau calendar 08 Aug 2023 Views icon5237 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
Uno Minda Shifts 2W Lighting Production to Kharkhoda, Approves ₹2500 Crore Fundraising Plan

auther Shruti Shiraguppi calendar21 May 2025

Uno Minda is relocating its 2W lighting plants to Kharkhoda, Haryana, to streamline operations and meet OEM demand.

Ansys and BlueKei Partner to Advance Digital Engineering in India

auther Shruti Shiraguppi calendar21 May 2025

Collaboration focuses on integrating system engineering practices and Model-Based Systems Engineering (MBSE).

Uno Minda Posts Mixed Q4 Performance, Closes FY25 on a High Note

auther Darshan Nakhwa calendar21 May 2025

Revenue jumps 19% in March quarter; profit growth muted by higher costs and base effect.