PTI

New Delhi: Diversified business house Lohia Group today announced its foray into automobile sector with launch of two electric bikes, both priced at Rs31,000 (ex-showroom, Delhi), thus expanding the fleet of eco-friendly vehicles in the country.

The company is also planning to launch electric three-wheeler in the next three to four months even as it gears up to introduce three more two-wheeler models in 2009.

“High fuel prices, degrading environment and depleting fossil fuel resources are major concerns for the society. These eco-friendly electric vehicles are developed keeping in mind these aspects and we have priced it in such a way that common people can also afford it,” Lohia Auto Industries (LAI) Chief Executive Officer Ayush Lohia told reporters here.

The prices of the two models -- Oma and Fame -- were kept same and it was before the tax rebate being offered by the Delhi government, he added.

LAI, part of the Rs500 crore Lohia Group , has set up a 30-acre greenfield manufacturing facility at Kashipur in Uttarakhand with an installed capacity of two lakh units per annum. For future capacity expansions, it would set up a new plant in the same campus.

The company aims to sell 20,000 units in this fiscal, which it hopes to increase to one lakh units during 2009-10, Lohia said.

The company targets to export about 20,000 units to some neighbouring countries, he said, adding “We are on the verge of finalising dealers in two Asian countries”.