River EV Pan-India Rollout: Company Achieves ₹100 Crore Revenue Milestone in FY25

Bangalore-based electric vehicle startup River EV has achieved a remarkable milestone, recording ₹100 crore in revenue for the fiscal year 2025. This achievement marks a significant step in the company’s ambitious River EV pan-India rollout strategy, which aims to establish a nationwide presence in the rapidly growing electric two-wheeler market.

River EV’s Revenue Milestone and Market Position

The River EV pan-India rollout gains momentum as the company reports selling approximately 5,000 electric scooters in the past year. This performance has positioned River among the top ten electric two-wheeler manufacturers in India by sales volume, an impressive achievement for the Bangalore-based startup in a competitive market dominated by established players.

Industry data from Vahan reveals that in March, the Indian electric two-wheeler market was led by Bajaj with 35,931 units sold, followed by TVS Motor (32,302), Ola (23,804), and Ather (16,587). While River’s current sales figures are modest compared to these industry giants, their rapid growth trajectory and revenue milestone indicate strong consumer acceptance and business viability.

Comprehensive Pan-India Rollout Strategy

The River EV pan-India rollout plan is structured and comprehensive, with clear regional targets for the next year. The company currently operates 25 stores across six southern states but has unveiled an ambitious expansion strategy to establish a truly nationwide presence by 2026.

In northern India, River plans to launch 20 new outlets across strategically important markets including Delhi, Rajasthan, Punjab, and Madhya Pradesh by the end of the current fiscal year. This northern expansion represents a critical phase in the company’s growth strategy, giving them access to some of India’s most populous and economically vibrant regions.

The western region will see 25 new stores across Maharashtra and Gujarat, two states with high adoption rates for electric mobility solutions. Meanwhile, eastern India will gain 11 new River outlets spanning Odisha, West Bengal, Chhattisgarh, Bihar, Jharkhand, and Assam, bringing the company’s innovative electric scooters to previously underserved markets.

The company isn’t neglecting its southern stronghold either, with plans to more than double its presence in the region to 60 stores by March 2026. This expansion strategy will significantly increase River’s retail footprint, making their electric two-wheelers accessible to consumers across virtually every corner of India.

Unique Retail Expansion Approach

What sets the River EV pan-India rollout apart from competitors is the company’s disciplined approach to retail expansion. Arvind Mani, CEO and Co-founder of River, emphasized that their expansion follows a highly structured methodology focused on quality over quantity.

“We’ve been very deliberate about getting the retail format right — we won’t open an outlet unless there’s a fully functional service center with it. That’s been our approach across Bangalore, Kerala, everywhere,” Mani told businessline.

This customer-centric strategy ensures that River’s growing customer base will have access to comprehensive after-sales support, a critical factor in building consumer trust and loyalty in the emerging electric vehicle sector. By prioritizing service infrastructure alongside sales outlets, River is addressing one of the key concerns potential EV buyers often have – reliable maintenance and support.

Future Growth Plans and International Prospects

While the River EV pan-India rollout remains the company’s primary focus, international expansion is also on the horizon. The company has announced plans to enter the Sri Lankan market by the end of this calendar year, marking its first step beyond Indian borders.

However, Mani expressed a measured approach to international growth, noting that export markets typically generate lower volumes compared to domestic sales. “India remains the core opportunity for now,” he stated, indicating a pragmatic priority on capitalizing on the vast potential of the Indian market before aggressive international expansion.

This balanced growth strategy reflects River’s understanding of the unique challenges and opportunities in different markets. By focusing resources on establishing a strong nationwide presence in India while cautiously exploring international opportunities, the company aims to build a sustainable growth trajectory that maximizes return on investment.

River EV’s Position in India’s Growing EV Market

The River EV pan-India rollout comes at a pivotal time for India’s electric vehicle industry. Government incentives, rising fuel costs, and increasing environmental awareness have accelerated consumer interest in electric mobility solutions, particularly in the two-wheeler segment that dominates Indian roads.

As a homegrown Bangalore-based startup, River brings local market understanding and innovation to the electric scooter category. The company’s ability to achieve ₹100 crore in revenue while competing against larger, more established manufacturers demonstrates the market’s receptiveness to new entrants offering compelling electric vehicle options.

By executing its ambitious expansion strategy successfully, River has the potential to significantly increase its market share and become a major player in India’s electric two-wheeler landscape. The company’s focus on building a comprehensive retail and service network across the country positions it well to capitalize on the growing shift toward sustainable transportation options.

With its strategic expansion plans, customer-centric approach, and solid financial foundation, River EV is well-positioned to ride the electric mobility wave sweeping across India. The company’s journey from a regional player to a national brand represents an important chapter in India’s evolving electric vehicle narrative.

(This article includes information from a report filed by BL intern Rohan Das)

Published on April 24, 2025