Lohia Auto Industries, which has a pan-India presence with an established dealer network, is targeting a turnover of Rs 500 crore by 2020. Ayush Lohia, its CEO, shares insights on how the company plans to achieve it and the way forward
Lohia Auto Industries was founded in the year 2008. Since then, the company has come a long way, launching electric two–wheelers and three-wheelers, as well as diesel three-wheelers. It is now progressing towards creation of even better modes of transport solutions. The company has been associated with the Society of Indian Automobile Manufacturers and is also one of the founder members of the Society of Manufacturers of Electric Vehicles. It is the only Indian company registered with the United Nations Framework Convention on Climate Change. Excerpts from the interview:
Lohia Auto is known for its electric vehicles. Now the company is into an IC engine-based vehicle. Where do you see the company heading?
Lohia Auto is well-geared with the technology and knowhow for its IC engine and diesel engine. Also, since the company is known for manufacturing two-wheelers and three-wheelers, this is not akin to an audacious move but rather an obvious one. We shall have a presence in three-wheelers too, both in its petrol and diesel versions.
What’s your current presence in the Indian market and overseas?
At present Lohia Auto Industries has made its mark in the Indian market. It has a pan-India presence with a vast dealer network of more than 100+ associates. Internationally, we plan to foray into Southeast Asia and neighbouring countries since these are emerging markets with lot of potential. We have started with Nepal and also launched a petrol vehicle there for the first time along with the appointment of a distributor.
How do you plan to achieve a turnover of Rs 500 crore?
Being an emerging player in electric two and three-wheelers, we are confident of achieving a turnover of Rs 500 crore by 2020. Our current portfolio and new launches over the coming quarter along with dealer network expansion will help us achieve this number and set the ball rolling, Currently, Lohia manufactures electric and diesel vehicles comprising two and three-wheelers. The company is looking to further expand in the electric vehicle segment with new variants in the passenger as well as cargo loader segment to achieve this goal. Our research and development team is continuously working in developing new and high-tech products, which will make for our future product line-up.
Could you elaborate about your new products?
We currently have three product portfolios – electric two-wheelers, electric rickshaws and diesel three-wheelers. In the electric rickshaw and diesel three-wheelers we have options available for passenger and goods transportation. The company plans to introduce high-speed advanced scooters and in electric vehicles we are developing a new platform for e-rickshaws as well as new cargo variants in diesel three-wheelers. We do have a presence in fossil fuel vehicles but our focus is on electrification. We want to be known as an electric vehicle organisation. Our new range of products will be equipped with the sector’s latest technology.
What is your plan for dealership expansion?
At present, Lohia Auto has 100 + dealers while 50 more will be added by this year-end. We are in the process of appointing dealerships across the northern region of India and we will be moving towards the south by this fiscal itself.
How do you see the company scaling up in the future? Where do you see the next opportunity coming from?
The possibilities and opportunities are immensely high as we all know that electric and alternative fuel vehicles are innovative, environment-friendly and will be in high demand due to various promotional policies being floated by the government. Our company has undertaken an investment of Rs 50 crore in creating a facility especially for electric vehicles and we intend to invest another Rs 10 crore in the next two years. The next focus area is to increase our market penetration and create an extensive all-India dealer network. We are in the process of developing electric two-wheelers and electric rickshaws with high-powered and long-lasting Lithium batteries.