Indo Wagen plans pan India expansion

Three-wheeler battery-operated e-rickshaw manufacturer Indo Wagen plans to expand across the country by 2021, a top company official said.

Indo Wagen, a venture of city-based Zeniak Innovation India Limited, has its manufacturing plant in China and an assembly unit at Howrah in West Bengal.

"We are presently operating in nine states of the country. We plan to expand to 15 states in north and central India by 2020 and to 20 states by 2021", CEO of Zeniak Innovation Rajeev Kumar Srivastava said.

He told reporters here on Monday that Indo Wagen would also have 10 warehouses by March 2020, adding that the e- rickshaw industry in India is growing at a CAGR of 20 per cent.

Srivastava said that the e-rickshaws are providing employment to hundreds of unemployed youth and offer a clean and cost-effective mode for short-distance commuting.