New Delhi: Electric two-wheeler maker Lohia Auto on Wednesday said it will foray into the United States (US) market in the next financial year with its products, for which it is carrying out necessary regulatory testings at present.
“We are targeting the international market at present. Very soon, we will appoint a distributor in the US and export will start next fiscal,” Lohia Auto Industries chief executive officer (CEO) Ayush Lohia told reporters here.
The company is currently working on “specific needs” on the safety areas for launching its products in the American market by the second quarter of next fiscal, he added.
Chief executive officer (CEO) of Lohia Auto Industries, Ayush Lohia at the launch of electric bike ”Genius”. Photo: AFP
Lohia said the company may start its export to the US with the ‘Genius’, which the firm launched here on Wednesday and other electric scooters in its portfolio would follow later along with other products that the company is developing.
He had earlier said the company was looking at many regions such as Africa, Latin America and the neighboring countries like Bangladesh for exporting its products.
Lohia Auto on Wednesday launched electric two-wheeler ‘Genius´, priced at Rs 25,495 (ex-showroom, Delhi), adding to its existing models - Oma and Fame.
“The new two-wheeler is targeted at young people. We are aiming to sell 400-500 units of this product every month,” Lohia said, adding the bike will be sold in North India first and sales will be expanded to other region gradually.
‘Genius’ can attain a maximum speed of 25 km per hour and it can run up to 70 km in a single charge.
When asked about other future products, Lohia said: “We will introduce a diesel three-wheeler during the Auto Expo in January. It will be in both passenger and goods carriers.”
While the passenger vehicle will have a carrying capacity of three passengers, the commercial vehicle will be able to carry about one tonne of load, he added.
Lohia had earlier said the three-wheeler will be in both diesel and CNG models, and will be priced between Rs 1.25 lakh and Rs 1.35 lakh (ex-showroom).
The New Delhi-based firm will launch the vehicles from its existing facility at Kashipur in Uttarakhand.
“We have invested about Rs 50 crore to set up a new production line at the plant. We will have a capacity to roll out 30,000-40,000 units of three-wheelers a year,” Lohia said.
Asked about its interest in acquiring beleaguered public sector firm Scooters India Ltd (SIL), Lohia said: “We are still in the race and we will proceed whenever the government comes out with the bid document.”
Earlier this year, the Cabinet had approved divestment of the government’s entire 95.38% stake in SIL, which has been suffering losses since 2002-03 and its entire net worth completely eroded by 2008-09.