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.

Image Credit : images.financialexpress.com

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