Companies

Atul Auto launches autorickshaws in CNG, LPG, petrol variants

Our Bureau Ahmedabad | Updated on March 08, 2021

Company to start supplies from April 2021, shares up 5%

Three-wheeler major Atul Auto Limited on Monday announced the launch of a new next-generation CNG, LPG and Petrol autorickshaw model for Gujarat market.

“The RIK platform was conceived after an extensive research keeping in mind the customer requirements both for the domestic and international markets,” the company informed in a statement.

The supplies will begin from April 2021, for India and international markets.

Features

The new model comes with features like international styled beige dashboard, semi digital instrument cluster, stepless entry, and first ever LED tail lamps.

For Return on Investment, company has offered its customers a scheme “Atulya Vishwas” thereby making an attractive value proposition in this space.

Also, the RIK CNG/LPG variant comes with a 36 months (unlimited km) super warranty, it added.

Trendy product

Niraj Chandra, Director, Atul Auto Limited, said, “Small CNG auto rickshaw segment was waiting for a stylish and trendy product since many years. The style-conscious customers prefer technology and style over traditional looks. We have introduced the RIK with a 360 degree approach, ensuring end-to-end solutions for the customers. By introducing RIK, we are sure to gain a good market share in 0.35-T 3 wheeler industry.”

The company’s turnover had touched ₹600 crore in fiscal 2019-20. It has a network of 120+ touch points in Gujarat matching the extensive CNG fuel network in the State.

J V Adhia, President - Finance, said, “Atul Auto Limited will strongly back RIK CNG/LPG at all locations with Khushbu Auto Finance (KAFL), the NBFC associate concern of AAL along with other retail finance partners.”

Atul Auto shares traded firm in the morning trades at ₹207.95, up over 5 per cent on BSE Monday.

 

Published on March 08, 2021

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