The Lohia group of companies is soon going to venturing in electric bikes and three wheelers industry. The group has chosen Chandigarh and Punjab as a strategic location to launch these bikes in next few months. With this Chandigarh having the highest per capita number of two wheelers in the country, will now see e-bikes hitting its roads.
Chairman of the company Vinay Gupta told FE that the company has set up facilities at Kashipur in Uttaranchal for the manufacture of electric bikes and electric three wheelers. The commissioning of the project to be executed at a cost of about Rs 150 crore is likely by July 2008 when batch of electric bikes and three wheelers would role out from the factory. The production capacity for the first year will be three lakh vehicles.
He further said that the e-bikes would neither require any registration nor a driving licence. Gupta said the best thing would be that the economy as per km cost would come to about 10 paise as battery recharge would be very cheap. Maintenance cost too would be minimal as there would be no conventional engine in these vehicles which would be battery operated. Gupta said he had specially chosen Chandigarh for his visit as this city had the highest per capita number of two wheelers in the country.
Chandigarh would be the first city in the country where these vehicles would be launched in July this year.
The group wishes to bring a revolutionary change in automobile market with the new range of electric bikes and electric three wheelers that promise to deliver high value to discerning customers. The two-wheeler market in North India especially in Chandigarh is a fast growing market, hence it has a strong potential for electric vehicles as well. The group plans to have 57 dealers across northern region to begin with.
Gupta said the domestic market size of e-bikes right now is of 500 crore and is expected to grow to 6,000 crores in next 4-5 years. And in terms of volume e-bikes market, the country is still at a nascent stage right now around two lakh units are there in market and is expected to grow to 30 lakh units in next 4-5 years.
He claimed that Lohia e-bikes will be the first German technology e-bikes that have been carefully engineered to a high standard of quality, with many innovative features. He said that the vehicle would be an ideal balance of style, solid performance and exceptional value that provides customers with a truly fun-loving bike with loads of features at an affordable price. He said that the in-house R&D will be the back bone of its Products.
About the targeted market, Gupta said that Lohia electric bikes will be aimed at discerning students and teenagers, housewives, office-goers who are on the look out for sleek and compact style. The e-bike has been built to deliver economical and environment friendly zero emission biking solution.
He concluded that 15 per cent of total production would be for overseas markets like USA, Europe and Australia.