``We hope to capture 30 per cent share of the market which is expected to witness a compounded growth rate of 10 per cent annually from the levels of two lakh units in 1998-99, company managing director ravi chopra told reporters here on Friday.

The diesel-powered three-wheeler hit the roads early this month after trial runs of over one lakh kms, Chopra said while setting a sales target of 15,000 units this fiscal year.

The 51:49 joint venture between the Italian auto major and the Indian engineering company was formed in April 1998 to manufacture three-wheelers from a plant at Baramati, near Pune.

``We have invested Rs 65 crore for the plant that has an annual capacity of 25,000 vehicles. But, the assembly line can be expanded as demand goes up with minimal investments,'' the official said at a function to launch the vehicle in Chennai.