Victory Electric Vehicles International Ltd. IPO

We are in the business of manufacturing Electric Vehicles which includes Electric Rickshaws, Passenger Rickshaws, E-Loaders, Cargo Rickshaws and Electric Scooters. Our portfolio extends beyond conventional offerings to include customized E-Three Wheelers, catering to specific needs such as Food ... Three Wheelers and Ice Cream Three Wheelers. Read more

Our Company was incorporated as " Victory Electric Vehicles International Private Limited " on October 26, 2018, as a private limited company, in accordance with the provisions of the Companies Act, 2013, pursuant to a Certificate of Incorporation dated October 26, 2018, bearing CIN No. ... U31909DL2018PTC341184 issued by the RoC, Central Registration Centre. Subsequently, our Company was converted to a public limited company, pursuant to a special resolution passed by our shareholders at the Extra Ordinary General Meeting held on February 10, 2020 and the name of our Company was changed to "Victory Electric Vehicles International Limited" and a fresh Certificate of Incorporation dated February 28, 2020 was issued to our Company bearing CIN No. U31909DL2018PLC341184 by the RoC, New Delhi.

Our Company operates in electric vehicle industry. India's electric vehicle (EV) sector is experiencing rapid growth, fuelled by government incentives, rising environmental concerns, and technological advancements. With initiatives like the Faster Adoption and Manufacturing of Hybrid and Electric ... Vehicles (FAME) scheme, India aims to significantly increase EV adoption, revolutionizing its transportation landscape towards sustainability and innovation. In 2023, the global electric vehicle market was valued at US$ 255.54 billion. It is forecasted to reach approximately US$ 2,108.80 billion by 2033, growing at a significant CAGR of 23.42% from 2024 to 2033. According to Fortune Business Insights, the Indian EV market is forecasted to expand from US$ 3.21 billion in 2022 to US$ 113.99 billion by 2029, with a 66.52% CAGR. In 2023, electric vehicle sales in India surged by 49.25%, reaching 1.52 million units. India has established an objective to increase the proportion of electric vehicle (EV) sales to 30% in private cars, 70% in commercial vehicles, 40% in buses, and 80% in two-wheelers and three-wheelers by the year 2030. This equates to an ambitious objective of 80 million EVs on Indian roads by 2030 as per the estimates of CII. The global move towards electric vehicles is generating new opportunities for automotive suppliers. The Indian EV battery market is projected to surge from US$ 16.77 billion in 2023 to a remarkable US$ 27.70 billion by 2028. Read more