Diversified business house Lohia Group announced its foray into the automobile sector on Friday with the launch of two electric bikes
NEW DELHI: Diversified business house Lohia Group announced its foray into the automobile sector on Friday with the launch of two electric bikes, both priced at Rs 31,000 (ex-showroom, Delhi), thus expanding the fleet of eco-friendly vehicles in the country.
The company is also planning to launch electric three-wheeler in the next three to four months even as it gears up to introduce three more two-wheeler models in 2009.
"High fuel prices, degrading environment and depleting fossil fuel resources are major concerns for the society. These eco-friendly electric vehicles are developed keeping in mind these aspects and we have priced it in such a way that common people can also afford it," Lohia Auto Industries (LAI) Chief Executive Officer Ayush Lohia said here.
The prices of the two models -- Oma and Fame -- were kept the same as it was before the tax rebate being offered by the Delhi government, he added.
LAI, part of the Rs 500 crore Lohia Group , has set up a 30-acre greenfield manufacturing facility at Kashipur in Uttarakhand with an installed capacity of two lakh units per annum. For future capacity expansions, it would set up a new plant in the same campus.
The company aims to sell 20,000 units in this fiscal, which it hopes to increase to one lakh units during 2009-10, Lohia said.
The company targets to export about 20,000 units to some neighbouring countries, he said, adding "We are on the verge of finalising dealers in two Asian countries".
"Our R&D team is currently developing three more two-wheeler models for launching in the market next year," Lohia said, adding the company would introduce its electric three-wheelers within next three to four months.
The company has earmarked a total investment of Rs 150 crore for setting up the plant and marketing of products by 2009. It plans to set up a dealership network of 150 dealers by third quarter of next year.
The Noida-based Lohia Group is currently involved in garment and handicrafts exports, steel and brass coil business and real estate developments.
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