Lohia Auto, EV manufacturer, plans to launch high-speed scooters & new three-wheeler
Thursday, 09 November 2023, 16:21 IST
Lohia Auto Industries Ltd, a manufacturer of electric two and three-wheelers, is aiming to expand its dealer network and introduce high-speed scooters and new passenger-carrying three-wheelers. By increasing its sales volumes, the company is hoping to achieve economies of scale, which will help reduce overall costs. The company's CEO also expressed his hopes that the Indian government will extend the Faster Adoption and Manufacturing of Electric Vehicles (FAME) II subsidy scheme beyond March 2024 and maintain the current import duty on vehicle and component imports.
Lohia Auto, under the leadership of CEO Ayush Lohia, is all set to launch its high-speed and high-powered electric two-wheelers next year. The company is also conducting a pilot run for its new passenger-carrying three-wheeler, which will be available for sale soon. The mass production of these vehicles will begin from next year onwards. In the two-wheeler segment, Lohia Auto will soon face competition from other high-speed two-wheeled electric vehicle makers such as Greaves Electric Mobility, Ather, Ola, and others. The company's plant, which produces one lakh units per annum, is located in Kashipur, Uttarakhand. Currently, Lohia Auto has around 100 dealerships in North and Central India, as well as a few in the Eastern and Western regions of India.
The company is planning to introduce its high-speed two-wheelers and a new passenger three-wheeler to the South Indian markets. They aim to have 200 dealers across the country in the next two years. Lohia suggested that the government should extend the FAME II subsidy scheme for two-wheelers for a few more years to encourage the entire two-wheeler market to switch to EVs by 2030. He further added that the three-wheeler segment would be the first to completely transition to EVs by 2027, followed by two-wheelers. However, if the government does not extend the FAME II subsidy beyond March 2024, then the 100 percent adoption date will be delayed.
Electric two-wheeler sales have slowed since the Indian government changed the subsidy scheme. It is anticipated that consolidation will occur in the electric vehicle (EV) industry, not through acquisitions, but with some existing companies ceasing operations. Nevertheless, having more players in the EV market will test various technologies. As the year 2023 approaches its end, Lohia, reflecting back, stated that the reduction in the EV two-wheeler subsidy has affected sales. Looking ahead to 2024, he hopes that the government will extend the subsidy scheme to three-wheelers as well as two-wheelers. "Higher localization can only happen when sales volumes increase, and India can become self-sufficient in the EV ecosystem. That's where the subsidy plays a crucial role".
Lohia Auto, under the leadership of CEO Ayush Lohia, is all set to launch its high-speed and high-powered electric two-wheelers next year. The company is also conducting a pilot run for its new passenger-carrying three-wheeler, which will be available for sale soon. The mass production of these vehicles will begin from next year onwards. In the two-wheeler segment, Lohia Auto will soon face competition from other high-speed two-wheeled electric vehicle makers such as Greaves Electric Mobility, Ather, Ola, and others. The company's plant, which produces one lakh units per annum, is located in Kashipur, Uttarakhand. Currently, Lohia Auto has around 100 dealerships in North and Central India, as well as a few in the Eastern and Western regions of India.
The company is planning to introduce its high-speed two-wheelers and a new passenger three-wheeler to the South Indian markets. They aim to have 200 dealers across the country in the next two years. Lohia suggested that the government should extend the FAME II subsidy scheme for two-wheelers for a few more years to encourage the entire two-wheeler market to switch to EVs by 2030. He further added that the three-wheeler segment would be the first to completely transition to EVs by 2027, followed by two-wheelers. However, if the government does not extend the FAME II subsidy beyond March 2024, then the 100 percent adoption date will be delayed.
Electric two-wheeler sales have slowed since the Indian government changed the subsidy scheme. It is anticipated that consolidation will occur in the electric vehicle (EV) industry, not through acquisitions, but with some existing companies ceasing operations. Nevertheless, having more players in the EV market will test various technologies. As the year 2023 approaches its end, Lohia, reflecting back, stated that the reduction in the EV two-wheeler subsidy has affected sales. Looking ahead to 2024, he hopes that the government will extend the subsidy scheme to three-wheelers as well as two-wheelers. "Higher localization can only happen when sales volumes increase, and India can become self-sufficient in the EV ecosystem. That's where the subsidy plays a crucial role".
