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| Lohia Group forays into auto sector; launches e-bikes | |
| Press Trust of India / New Delhi November 14, 2008, 17:12 IST | |
Diversified business house Lohia Group today announced its foray into automobile sector with 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 told reporters here.
The prices of the two models, Oma and Fame, were kept same and 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".
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