River's Electric Vision: Powering Ahead with Ambitious Growth Plans
River, an electric two-wheeler company, targets a turnover over tenfold by March 2028 by expanding its sales network and launching new models. With plans for a greenfield plant and potential exports, the company seeks USD 120-130 million in capital and envisions profitability before considering an IPO.
- Country:
- India
Electric two-wheeler manufacturer River is setting ambitious growth targets, aiming for a turnover exceeding ten times its current figures by March 2028. Its strategy includes expanding product lines and strengthening its sales network nationwide, as shared by Co-founder and CEO Aravind Mani.
The Bengaluru-based company, which has already surpassed Rs 100 crore in revenue with just one electric scooter model across a limited sales network, plans to increase its sales outlets to around 350 by March 2028. This expansion could potentially generate monthly sales of 20,000 units and a turnover of Rs 1,200 crore, Mani said in an interview with PTI.
In the next phase of growth, the company plans to enhance its production capabilities by building a greenfield manufacturing plant and is in talks with several state governments. Additionally, River plans to raise USD 120-130 million for expansion and is considering going public in the foreseeable future, depending on achieving profitability.
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