Stainless steel E-rickshaw launched at 10th EV Expo

Jindal Stainless eyes Rs.200 crore revenue in the 
E-rickshaw market
by Ria
New Delhi: First Stainless Steel E-rickshaw was commercially launched during 10th Electric Vehicle Expo 2019 (EVEXPO 2019) held in Pragati Maidan, Delhi between 20-22nd December. Nimish Goel, Segment Head, Electric Vehicles, Jindal Stainless, Jitendra Thukral, MD, Thukral Electric Bikes and Anupam Batra, MD, SKS Trade India were present on this occasion. Jindal Stainless had developed a stainless steel E-rickshaw prototype few months back in collaboration with E-rickshaw manufacturers and showcased during EV Expo held in Lucknow. Speaking on this occasion, Nimish Goel, Segment Head, Electric Vehicles, Jindal Stainless said, “Considering the market potential of E-rickshaw in India, we are extending our full support to E-rickshaw manufacturers in designing and developing stainless steel models that are affordable, high on RoI, and user-friendly. Thukral Electric Bikes and SKS Trade India are our first manufacturing partners who have helped in commercial roll-out of Stainless Steel E-rickshaw. Our teams across India are forging partnership with more E-rickshaw dealers and manufacturers for seamless production of this environment-friendly vehicle. Continued government subsidies will enable faster adoption and will speed up market growth.”
According to transport sector sources, it is estimated that nearly 6 lakh E-rickshaws are sold in India annually and this sale is expected to grow to the tune of ~16 % (CAGR) in the next 5 years. As a new business development initiative towards sustainable transportation, after stainless steel bus bodies and railway coaches and wagons, Jindal Stainless is targeting a 25% share of the total E-rickshaw market in India over the next 2 years fetching estimated revenue of Rs.200 crore. The company expects an annual volume demand of 13,000 metric tonnes from this new business development initiative by 2021.
At present, life of a carbon steel E-rickshaw is 2-3 years which needs to be disposed at the end of the life cycle. It is prone to frequent chassis corrosion, which calls for regular maintenance and poses a high risk to the safety of passengers. To fabricate various E-rickshaw components like chassis, boxes, anti-skid chequered floors, and decorative structure, stainless steel pipes and sheets are readily available. These stainless steel components enhance the overall safety of the E-rickshaw due to a high strength-to-weight ratio, improved crash resistance, and better corrosion prevention. Using stainless steel components therefore doubles the life span of an E-rickshaw. This further leads to a reduction in the overall body weight of the E-rickshaw by 14-15%, resulting in higher battery efficiency. Additionally, a stainless steel E-rickshaw owner has the supplementary advantage of high stainless steel scrap rate yielding value-for-money savings at the end of the E-rickshaw’s life cycle. Thus, the total annual cost saving accrued from switching over from a carbon steel to a stainless steel E-rickshaw is to the tune of 32%. Amidst rising environmental pollution, E-rickshaws have emerged as the most economical option for last mile connectivity in both urban and rural areas.

Comments

Post a Comment

Popular posts from this blog

Technology to Lead Business Collaboration: “Future of Meetings” Research by Barco and Savanta

Image
by Ria Collaborative technology lowering hidden expenses for enterprises Shorter and smaller meetings are more effective, video conferences improve collaboration Voice recognition, video filters, AR, VR and bots will drive collaboration over next three years Mumbai, India – :  New-age collaborative technology is   at the core of stronger business relations and improves turnaround for enterprises by minimising the waste of time and human resources during inefficient meetings. Indian meeting rooms and professionals are more adaptive to disruptive technology compared to the global scenario  according to “The Future of Meetings” white paper launched by Barco ClickShare, in association with independent research agency Savanta  which shows that 83% of Indian employees carry at least two devices into the meeting room as against 72% globally.   The research found that the most ardent users of technology, in India and globally, include Baby Boomers and Millennials and that
Read more

Xylos launches its Modern and Premium Borneo Teak Dining Table Set

Image
by Ria A dining table is one of the most useful and practical addition to any home, that not just offers an excellent dining experience with your family and guests, but also gives a feeling of one’s home. If you are looking for an elegant dining set that works in almost any structure, this timeless yet modern design is just perfect. Xylos introduces its stunning range of Borneo Teak four seating dining table sets that reflect a charm and sophistication with a stylish Touch. The Xylos dining table set is made out of solid hardwood Borneo teak material that gives the look of the contemporary look. From self-owned, sustainable teak forests of Borneo which is the World’ third-largest island, known for its precious teak, come Xylos’s excellent Borneo teak. The Borneo Teak has an excellent anti-rot, chemical free properties and high tensile strength. All Xylos Borneo dining table set comes with PEFC Certified which brings sleekness and sophistication to a dining room with its un
Read more

Ujjivan Small Finance Bank launches Smart Kirana Plan this festive season

by Ria Ujjivan Small Finance Bank introduces Smart Kirana Plan for departmental and kirana stores to enable them grow their business manifold this festive season. As part of this festive period, Ujjivan SFB is offering a value proposition specially created for retailers, through which they will be able to save upto 86% of their existing cost. The plan also includes free Point of Sale (POS) machine + installation and special discounts on rentals. In addition to the above, the Smart Kirana Plan offers 0 % Merchant Discount Rate (MDR), upto Rs30, 000 worth of transactions, every month. The plan ensures that the accounts are settled, with the amount credited to the retailer’s account, the same day. Commenting on this plan,  Mr. Sanjay Kao,   Chief Business Officer, Ujjivan Small Finance Bank  said, “The festive period is a great opportunity for the departmental and the kirana stores to maximise on their turnover. The Smart Kirana plan of Ujjivan SFB will enable retailers cash-in on
Read more