Lohia Auto to invest Rs 40 crore in next two years

Lohia Auto, which today launched electric-three wheeler 'Humrahi', is investing Rs 40 crore in the next two years to ramp up production capacity.
"We will be making an investment of Rs 30-40 crore in the next two years to enhance manufacturing capacity of diesel and electric three-wheeler," Lohia Auto chief executive officer Ayush Lohia said at the 12th Auto Expo here.
The company has its manufacturing plant in Kashipur Uttarakhand with a capacity of 1 lakh units per year.
Talking about the company's new launch, he said the vehicle is not only eco friendly but also cost effective. It is priced between Rs 1 - 1.5 lakh.

The company aims to sell 20,000 electric three wheelers in the next fiscal.
Built in line with the Automotive Research Association of India design specifications, these rickshaw are said to deliver comfortable ride even on the toughest road, he said adding these vehicles are likely to have higher shelf life than Chinese counterparts.

It has also approached the Centre and state governments for tax concessions to promote green vehicles in the country.
Lohia Auto is a part of Lohia group, which is present in automobile, handicraft export, retail warehousing, real estate sectors, among others.
It has also launched electric two wheelers under the OMA Star, Fame and Genius brands.