Lohia Aims High: Targets 10,000 Electric Three-Wheelers for Sales

Key Highlights:
•    Lohia aims to sell 25,000 electric two-wheelers and 10,000 electric three-wheelers.
•    Lohia holds a 50% share in the L5 category of three-wheelers.
•    Lohia sees EVs as a major part of India's future transportation, targeting 30-50% market share in two-wheelers.
•    CEO Ayush Lohia acknowledges industry hurdles but stays optimistic with upcoming policy support.
•    Lohia plans more factories, battery tech innovations, and wider dealer networks to meet demand and improve service.

Lohia has revealed ambitious growth targets to propel the nation's electric vehicle (EV) industry to new heights. With an ambitious sales target and a solid market presence, Lohia is well-positioned to capitalise on the growing demand for sustainable transportation solutions.

Lohia has set a substantial sales target of 25,000 electric two-wheelers and 10,000 electric three-wheelers. This aim coincides with a turning point in the Indian EV market, which recently exceeded the million-EV barrier. 

Notably, Lohia now holds a 50% market share in the L5 category of three-wheelers, indicating its dominance and proficiency in this segment. Lohia plans to raise its two-wheeler market share to between 30% and 50% by the end of the decade, from its present 5%.

With current market trends and public preferences turning toward environmentally friendly automobiles, Lohia is optimistic about the future of EVs in India. The business anticipates that by 2030, EVs will account for a significant percentage of vehicles on Indian highways. 

Ayush Lohia, CEO of Lohia, highlighted some of the industry's issues, including a recent decline in government subsidies and a shortage of battery cell production facilities in India. "While these factors have slowed growth in the last six months, we are optimistic about the future, particularly with the anticipated introduction of the FAME III policy, which is expected to allocate significant funds to boost the EV sector," he added.

Lohia is looking for expansion opportunities to prepare for rising demand and meet future sales ambitions. The company is considering expanding its manufacturing facilities in response to government incentives for future EV investments.

Furthermore, the firm intends to expand its dealer network to provide better service quality and client interaction, with distinct stores planned for its two- and three-wheeler lines. Lohia is expanding its production capacity and investing in areas such as battery switching technology and forming collaborations to improve its product offers. 

Addressing concerns regarding the FAME II subsidy, Lohia stated that it has been transparent with the Department of Heavy Industries to minimize misconceptions, reaffirming its commitment to compliance and ethical business practices.

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CMV360 Says

It's exciting to see Lohia's ambitious plans to propel the EV industry forward in India. With a clear vision, innovative strategies, and a commitment to sustainability, Lohia is poised to make significant contributions to the country's transition towards greener transportation options.