Que: What is your outlook on the E-Rickshaw and electric three-wheeler market in India?

Ans: The electric three-wheeler market in India is poised for exponential growth, driven by the country’s rising demand for cost-effective, sustainable last-mile connectivity. With a remarkable 57 percent YoY growth in FY2024 and 6.3 lakh+ units sold, the segment is clearly witnessing strong momentum, especially in key states like Uttar Pradesh, West Bengal, Delhi, Assam, Bihar, and Jharkhand. At Zelio, we see this as a defining opportunity to cater to both passenger and cargo mobility needs in urban and semi-urban areas. Our Tanga Butterfly and Tanga SS models feature robust MS and SS body options, 1200W motors, and 100 km range per charge, all tailored to real Indian road and business conditions. With a consistent focus on reliability, affordability, and service accessibility, we believe electric three-wheelers will continue to play a transformative role in India’s mobility future, and we’re committed to leading that shift.

Que: What would you say is the USP of Zelio’s electric two-wheelers and three-wheelers?

Ans: At Zelio, our unique selling proposition lies in delivering a diverse and thoughtfully engineered product range that blends affordability, performance, and practicality, tailored specifically for Indian consumers. Our low-speed two-wheeler series – GRACY, Eeva, and X-Men – offer ideal solutions for daily commutes, with stylish design and high efficiency, while our high-speed Mystery model caters to performance seekers with 70 km/h top speed and 100 km range. We’ve also ventured into electric three-wheelers with the Tanga Butterfly and Tanga SS, designed for tough Indian roads with 1200W motors, 100 km range, and MS/SS body options. Supported by a fast-growing dealership network of over 400 outlets and a target of 1,000 by 2025, we ensure deep market penetration and seamless after-sales support. Our paperless warranty system, focus on R&D, and customer-first innovation make our EVs reliable, stylish, and sustainable choices, driving adoption across urban and rural India.

Que: As you aim to establish 500 dealerships by the end of the 2025 calendar year, which regions are you targeting most aggressively?

Ans: At Zelio, while we already have a strong presence across 23 states with over 400 dealerships, reaching 500 dealerships is well within reach as we aggressively push toward our larger goal of establishing 1,000 outlets by the end of 2025. We are strategically targeting high-growth and underpenetrated regions such as Bihar, Jharkhand, Karnataka, Kerala, Himachal Pradesh, and the North-Eastern states, where EV adoption is rising and market potential remains largely untapped. These regions offer immense opportunities to serve both urban and semi-urban populations looking for affordable and efficient mobility. Our “Har Ghar Zelio” vision drives this expansion, ensuring we’re not only present in metro cities but also deeply embedded in Tier 2 and Tier 3 towns, bringing our stylish, reliable, and eco-friendly vehicles closer to every Indian household.

Que: How many new products does Zelio plan to launch in this calendar year across both two-wheeler and three-wheeler categories?

Ans: We are planning to launch three new products this calendar year across different categories, designed to meet the diverse needs of modern commuters by combining innovative technology, user-friendly features, and eco-friendly efficiency. This expansion reflects our commitment to providing reliable, stylish, and affordable electric mobility solutions tailored for urban and semi-urban markets. With these upcoming launches, we aim to strengthen our product lineup and reinforce our presence in India’s fast-evolving electric vehicle landscape. More details about these exciting products will be shared soon.

Que: Is Zelio planning to expand its R&D team, and if so, what areas of innovation are you prioritising?

Ans: R&D is absolutely critical in the EV domain, where technology evolves rapidly and customer expectations keep rising. At Zelio, we prioritise building a strong R&D team because continuous innovation drives better battery efficiency, improved range, enhanced safety features, and overall vehicle performance. Staying ahead means not just reacting to market trends but anticipating future needs and developing solutions tailored to India’s unique conditions. Our commitment to R&D ensures we deliver electric vehicles that are reliable, affordable, and stylish, giving our customers the confidence to switch to sustainable mobility. We’re focused on expanding our team with top talent to keep pushing boundaries and accelerating our growth in this competitive market.

Que: Tell us more about your recent partnership with ECOFY. How will green financing solutions impact EV adoption among your customer base?

Ans: We recently partnered with Ecofy, India’s first green-focused NBFC, to make electric vehicles more accessible and affordable for our customers. This collaboration enables buyers to finance popular Zelio models with flexible, low-interest loans and customizable EMIs, significantly reducing the upfront cost barrier that often limits EV adoption. The entirely digital, paperless process ensures a seamless and quick approval experience, setting a new standard for ease and convenience.

For our dealers, Ecofy’s tools and specialised training empower them to effectively promote these green financing options and assist customers throughout the application process. This partnership aligns perfectly with our commitment to sustainable mobility, offering both financial ease and environmental benefits to our growing customer base. Integrating green financing solutions is expected to accelerate EV adoption and support India’s transition to cleaner transportation.

Que: Are there any plans to raise funds through an IPO or other investment routes in the near future?

Ans: We are actively preparing for an IPO in the near future as a crucial part of our strategic growth plan. This step will strengthen our financial foundation and provide the capital needed to accelerate innovation and expand market reach across India. Going public allows us to invest more aggressively in advanced technologies and scale operations to meet the rising demand for sustainable and affordable electric mobility solutions. This approach will help solidify our position in the evolving EV sector while delivering greater value to customers and stakeholders.