Rico Auto bags Rs 1200 crore order from EV makers

Rico Auto bags Rs 1200 crore order from EV makers

Rico Auto has recently bagged an order worth about Rs 1,200 crore from electric vehicle manufacturers.

With a plan to achieve a Rs 2,000 crore turnover by 2020 from an expected Rs 1,500 crore revenue in FY18-19, the company is expected to invest over Rs 400 crore in the next three years.

Speaking to ETAuto, Arvind Kapur, chairman, Rico Auto, said, “We launched products in two-wheeler aftermarket last year and received a good response so we are launching products in four-wheeler segment. We expect to get rs 100 crore from this segment”

The company is also increasing its presence in the aftermarket by expanding to both two-wheeler and four-wheeler segments.

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