River's Ambitious Path: Tenfold Growth and Global Reach by 2028

Electric vehicle maker River is setting its sights on an ambitious expansion plan, targeting a tenfold increase in turnover by March 2028. The company's CEO, Aravind Mani, highlighted the strategy to enlarge its product lineup and enhance its sales network nationwide.

Currently, River operates primarily in southern and western India, offering a single electric scooter, 'Indie.' The firm aims to escalate monthly sales to 20,000 units, projecting a turnover of Rs 1,200 crore by 2028. Plans include establishing 350 sales outlets supported by service centers.

River is negotiating with state governments for a greenfield manufacturing plant and anticipates needing USD 120-130 million in capital. Backed by investors like Yamaha and Mitsui, the company eyes an IPO in the next 3-5 years while expanding into global markets such as South East Asia and Africa.