One of the leading players in the electric vehicle industry in India, Saera Electric Auto Private Limited (SEAPL), is expecting 2X growth in turnover by the end of FY 22-23. In the last fiscal, SEAPL stood at 152 Cr, but it has already crossed the 182 Cr mark in the first two quarters of the current fiscal. Following this rate, Saera Electric is inching towards a 100 per cent growth in annual turnover, i.e., INR 320 Cr by March 2023.
SEAPL was the first company to introduce an e-rickshaw in India with its brand Mayuri, which is the first to receive a vehicle approval certificate ICAT from the International Center for Automobile Technology. SEAPL also manufactures popular low-speed e-scooters with the brand Yogo Bikes. All the electric vehicles manufactured by SEAPL are designed and assembled using cutting-edge technologies prevalent in the industry.
The company’s leadership attributes this growth to SEAPL’s latest expansion drive, which has immensely increased its production power. “When planning is followed by perfect execution, decisions accrue results. After two years of a volatile market, the automobile industry is re-experiencing the sunny days, and electric vehicles are the main drivers of this much-awaited growth. We were also waiting for the right time to kick-start SEAPL’s expansion spree and made some rewarding decisions by adding on the company’s production capacity,” noted the Managing Director of Saera Electric Auto Private Limited Nitin Kapoor.
SEAPL had acquired Harley Davidson Plant in Bawal (Haryana), and this state-of-the-art plant has further leveled up the production capacity, addressing the growing demand for efficient electric vehicles in India. The Bawal plant can produce 2 lakh two-wheelers and 36,000 units of electric three-wheelers annually.
Moreover, SEAPL’s new Plant in Kosi (Uttar Pradesh) has also started rolling out Vehicles and once it is fully operational soon will have an annual capacity of 24,000 units. . With three plants the company has enhanced its overall production capacity to 2,24000 Electric Two wheelers per year and 36000 Electric three wheelers
SEAPL also started a new unit in Bhiwadi (Rajasthan) for manufacturing Electric two-wheeler chassis and frames, having a production capacity of 75000 units to support various OEM two-wheeler manufacturers in the country.
“We have also signed a Contract Manufacturing Agreement with LML Electric, and under this agreement, SEAPL will manufacture vehicles for LML Electric’s upcoming Electric two-wheelers we expect production to start early next year,” added Mr. Kapoor.
The primary operation of Saera is assembling and manufacturing cleaner and greener electric L 3 category vehicles (e-rickshaw and e-cart loader) and electric 2W low-speed vehicles, making the company emerge as one the leading players in the industry.
