What we do Victory Electric Vehicles International Ltd manufactures electric vehicles including rickshaws, loaders, cargo rickshaws, and scooters, promoting sustainable mobility across India. |
Founded in 2,018 |
Market share Strong regional presence in key states like Uttar Pradesh, Rajasthan, Haryana, and Maharashtra, focusing on electric rickshaws. |
Problem solved Provides eco-friendly and affordable urban and rural transportation solutions reducing pollution and dependence on fossil fuels. |
Top clients or who we serve Primarily serves urban and rural transport sectors; customers include last-mile transport operators and individual buyers; B2C focus. |
Key management - |
Our journey and innovations Increased production capacity to 6,000 vehicles in 2024 and launched L-5 variant with 5 new electric vehicle models; IPO raised Rs 40.66 crore in 2025. |
Where we operate India, with operational focus in multiple states across northern and western regions. |
Top products or what we offer Electric Rickshaws, Passenger Rickshaws, E-Loaders, Cargo Rickshaws, Electric Scooters; newly launched L-5 series with five models. |
Top brands L-5 series - new model lineup launched in 2024; established electric rickshaw models with pan-India reach. |
Raw materials needed Automotive components, batteries, electric motors, electronic control units. |
Raw materials supplier - |
Recurring vs cyclical contribution Revenue primarily from vehicle sales, mostly cyclical with demand tied to transportation needs and government incentives. |
Our industry position Emerging player with growing production capacity and regional leadership in electric rickshaws within Indian EV market. |
Financial highlights FY23 Revenue: Rs 52.00 Cr; Profit Before Tax: Rs 0.99 Cr; Profit After Tax: Rs 0.72 Cr; steady growth from previous year. |
Geographical revenue split Majority of revenue derived from northern and western Indian states; no detailed split available. |
Order book - |
Whats driving growth Government push for electric mobility, rising urban transport demand, expanded production capacity, new model launches. |
Our future plans Increase production capacity, expand model portfolio, and capitalize on growing urban EV adoption. |
Our green promise Focus on sustainable electric mobility solutions contributing to reduced emissions and cleaner urban environments. |
Our people and values Committed leadership and workforce focused on innovation and sustainable growth; culture details not specified. |
Key challenges ahead Competition, scaling production, technological advancements, and price competitiveness. |
Interesting facts Successfully transitioned from private to public limited company and raised Rs 40.66 crore via IPO in 2025. |
Risks and strategy Monitoring market competition and technological shifts; strategy includes scaling capacity and diversification of EV models. |
