Lohia Auto, the electric vehicle manufacturing division of Lohia consortium, is aiming to upsurge in its sales by nearly eight times to 90,000 units of e-scooters in the domestic market in the next four to five years. In its bid to augment its sales, the company has also lined up a couple of more rollouts in the high-speed scooter segment.
“We want to be a market leader in India. In the next 4-5 years, we aim to sell 90,000 units of electric scooters in the domestic market. It's an ambitious target,” Lohia Auto Industries Chief executive officer Ayush Lohia told PTI. He also said the two-wheeler segment of the Indian electric vehicle (EV) industry produces about 1.2 lakh units annually and it is likely to touch 5 lakh units within next five years. He also stated, “We are targeting 20 per cent of the two-wheeler EV market by 2014,” he said, adding the firm, which entered the electric scooters market in May this year, expects to sell 12,000 units this year.
The company is also gearing up to enter certain overseas markets like SAARC, Europe and even United States, reports PTI exclusively, adding that it is already in talks with some European distributors for shipments, The company has also indicated to the aforesaid newswire agency that it’s R&D team is already is working to finetune its portfolio to make it compatible with the US market.
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