Lohia Launches New E3W Models; Plans To Significantly Expand Its Network
Lohia will also unveil five new models of battery-operated rickshaws both in L3 and L5 categories by the end of this month
Lohia, an electric automobiles manufacturer in India, has launched new electric three-wheeler (E3W) models, marking a renewed focus on the E3W segment. The introduction of these new models is intended to gain a foothold in the highly competitive entry-level E3W market, which has witnessed significant growth.
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 per cent of those sold in India.
The government's support and policies have helped India overtake China as the world's largest market for electric three-wheelers, with over 5,80,000 units sold in 2023, according to the IEA.
The price war in the E3W segment has been a key factor, and with the launch of these new models, the company aims to provide cost-effective solutions without compromising on quality and performance.
Lohia will unveil five new models of battery-operated rickshaws both in L3 and L5 categories by the end of this month. These models have bold look with new graphics and with affordable prices, making electric mobility more accessible to a broader audience. This competitive pricing is expected to set the stage for a new era of affordability and innovation in the E3W market.
The electric three-wheeler market in India is experiencing rapid growth, driven by increasing demand for sustainable transportation solutions. With over 79,000 units retailed in June 2024, the E3W segment registered strong 27 per cent MoM and 17 per cent YoY growth. Besides, E3W penetration is expected to rise to 14–16 per cent by FY25, according to an ICRA report, and with the strategic introduction of these new models, Lohia is well-positioned to capitalise on this trend.
Commenting on the expansion plan, Ayush Lohia, CEO of Lohia, stated, “Our new product launches will meet the diverse needs of India's evolving electric mobility market, aligning with the government's vision of making India an electric vehicle nation by 2030. We have an ambitious investment plan of Rs. 200 million for this year FY- 24-25, focusing on research and development, infrastructure expansion, and market penetration. These investments will enable the company to innovate continuously, enhance its product offerings, and maintain its leadership position in the E3W segment. Our total units sold are 5,000 units, which we will increase this year to 10,000 units, including all categories,"
To support the launch of these new models and strengthen its market presence, Lohia plans to significantly expand its dealer and sales network. This expansion will ensure widespread availability of its products across India, providing customers with easy access to innovative and affordable electric mobility solutions.
The company's manufacturing facility in Kashipur will undergo a production ramp-up to meet the anticipated demand for its new range of E3Ws. This state-of-the-art facility is equipped with the latest technology and infrastructure to produce high-quality electric vehicles at scale.
With the launch of these new models and the expansion of its product portfolio, the company aims to achieve significant market share and drive substantial revenue growth.
