homeauto NewsRico Auto plans to raise EV segment contribution from 12% to 30% a year

Rico Auto plans to raise EV segment contribution from 12% to 30% a year

In an interview with CNBC-TV18, Arvind Kapur, Chairman & MD at Rico Auto Industries, shared that EV segment will play an increasingly significant role in the company's revenues, with EV contribution to revenues projected to increase by 4-5 percent every year going forward. In fact, Kapur stated that the company expects EVs to contribute 25-30 percent of its revenues in the near future.

By Nigel D'Souza   | Mangalam Maloo  Jan 11, 2023 5:36:16 PM IST (Published)

2 Min Read
In an interview with CNBC-TV18, Arvind Kapur, Chairman & MD at Rico Auto Industries, shared that the EV segment will play an increasingly significant role in the company's revenues, with EV contribution to revenues projected to increase by 4-5 percent every year going forward.
In fact, Kapur stated that the company expects EVs to contribute 25 percent of its revenues in the near future.
Kapur said, “This year we should be crossing about 12 percent of our turnover would be the EVs and we are adding almost 4 to 5 percent year-on-year. Soon we should be crossing almost 25-30 percent that is what we are targeting.”