Electric two-wheeler manufacturer Lohia Auto on Thursday said it would make a foray into the three-wheeler market by this year-end by introducing diesel and CNG models, priced between Rs.1.25 lakh and Rs.1.35 lakh.
“Within the next six months, we will introduce our three-wheelers for passenger and commercial segments. These vehicles will be manufactured at our Kashipur (Uttarakhand) plant where we have invested Rs.50 crore to set up three-wheeler production line with an installed capacity of 3,000 units a month,” Lohia Auto Industries Chief Executive Officer Ayush Lohia told journalists here.
To sell 1,500 units
Stating that the company planned to sell about 1,500 units in the current fiscal, Mr. Lohia said the company would initially selling three-wheelers in the North and the East and then pan-India by mid-2012. “We look forward to launch products that are highly competitive to the existing product segment,” he said.
Mr. Lohia further said the company wanted to become a significant player in the three-wheeler market, which is now around 3.5-lakh units per year. “Within the next three years we hope to garner a substantial market share, while we have plans to export our vehicles later next year to Africa, Latin America and our neighbouring countries,” Mr. Lohia said.
Dealerships
At present, Lohia Auto has 35 dealers while 15 more will be added by this year-end. “We are in the process of appointing dealerships across Northern India and we will be moving towards the South by this fiscal itself,” he added.
