Stainless steel E-rickshaw launched at 10th EV Expo

- Jindal Stainless eyes Rs.200 crore revenue in the E-rickshaw market

New Delhi, December 26, 2019: First Stainless Steel E-rickshaw was commercially launched during 10^th Electric Vehicle Expo 2019 (EVEXPO 2019) held in Pragati Maidan, Delhi between 20-22^nd 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.