EV maker Lohia Auto to launch high speed scooter, new three-wheeler
CHENNAI: Electric two-wheeler and three-wheeler maker Lohia Auto Industries Ltd is planning to launch high-speed scooters and new passenger-carrying three-wheelers, expand dealer network, a top company official said.
The increased sales volume will provide economies of scale to the company and in turn reduce overall costs.
They also expect the Indian government to extend the Faster Adoption and Manufacturing of Electric Vehicles (FAME) II subsidy scheme beyond March 2024 and not reduce import duties on vehicle and component imports.
“Next year we will launch our high-speed, high-power electric two-wheelers. We are also selling a new passenger carrying three-wheeler on a pilot basis. Large-scale numbers will be seen from next year,” Ayush Lohia, CEO, told IANS.
According to him, in the two-wheeler segment the company will soon compete with other high speed two-wheeler electric vehicle (EV) manufacturers like Greaves Electric Mobility, Ather, Ola and others.
Lohia Auto’s Rs 1 lakh annual plant is located in Kashipur, Uttarakhand and the company has around 100 dealers, predominantly in North and Central India and some in the Eastern and Western regions of India.
Lohia said the company will be targeting the South Indian markets with its proposed high-speed two-wheeler and a new passenger three-wheeler.
“In two years we will have around 200 dealers across the country,” he said.
According to Lohia, the government should extend the FAME II subsidy scheme for two-wheelers for a few more years so that the entire two-wheeler market shifts to EVs by 2030.
“The three-wheeler segment will be the first segment to completely transition to EVs by 2027 followed by the two-wheeler segment. If the government does not extend the FAME II subsidy beyond March 2024, the date of 100 per cent adoption will be pushed forward,” Lohia said.
According to him, the pace of sales of EV two-wheelers has slowed down after the amendment in the subsidy scheme by the Central Government.
He also said that there will soon be consolidation in the EV segment not through acquisitions but with some existing players shutting down their operations.
One advantage of more players in the EV segment is that different technologies will be tested.
As the year 2023 nears its end, Lohia said looking back, the cut in subsidy for EV two-wheelers has hit sales and looking towards 2024, he hopes the government will expand the subsidy scheme not only for two-wheelers but also for three-wheelers. Will also increase for vehicles. The one with wheels.
“Only when sales volumes increase, higher localization can happen and India can become self-reliant in the EV ecosystem. This is where subsidies play an important role,” Lohia said.
