Lohia Debuts New E3W Lineup Models To Capture Expanding Market

Lohia, one of India's leading electric vehicle manufacturers, has announced the launch of several new electric three-wheeler (E3W) models. This move underscores the company's renewed focus on the E3W segment, offering a range of electric rickshaws and three-wheelers tailored to meet diverse customer needs.

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The launch comes at a time of significant growth in the global electric vehicle market. According to the International Energy Agency's latest Global EV Outlook, one in five three-wheelers sold globally in 2023 was electric, with nearly 60% of those sold in India. Government policies and support have propelled India past China as the world's largest market for electric three-wheelers, with over 580,000 units sold in 2023.

Lohia is set to unveil five new models of battery-operated rickshaws in both the L3 and L5 categories by the end of this month. Lohia also sought to bring the electric vehicle segment under the priority sector lending to make it easier for customers to buy electric vehicles.

The E3W market in India is growing rapidly, driven by the increasing demand for sustainable transportation. In June 2024 alone, over 79,000 units were sold, reflecting a 27% month-over-month and 17% year-over-year growth. According to an ICRA report, E3W market penetration is expected to rise to 14%–16% by FY25. With its new models, Lohia is well-positioned to take advantage of this growth.

Ayush Lohia, CEO of Lohia, said, "The launch of our new E3W models is a significant step in our journey towards sustainable transportation. We are committed to making electric mobility accessible and contributing to a greener India. Our new product launches will meet the diverse needs of India's evolving electric mobility market."

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Lohia plans to invest Rs 20 crore in FY24-25, focusing on research and development, infrastructure expansion, and market penetration. The company's manufacturing facility in Kashipur will ramp up production to meet the anticipated demand for the new E3Ws. Lohia Group also plans to double its sales network to 200 dealerships by the end of this fiscal, and to double its sales volume to 10,000 units this FY.