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Lohia Auto To Foray Into Three Wheeler Market In 6 Months
Lohia Auto Industries Chief Executive Officer Ayush Lohia said that the company has plans to expand our business by stepping into the three-wheeler market in the next 3-6 months. The company will come out with diesel and CNG options in both passenger and commercial vehicles category.
He added that the passenger vehicle will have a carrying capacity of three passengers, the commercial vehicle will be able to carry about 500 kg of load. And the company will roll out the vehicles from its existing facility at Kashipur in Uttarakhand.
Further he said that they have invested about Rs 50 crore to set up a new production line at the plant. It will have a capacity to roll out 3,000 units of three wheelers every month. In the first six months of the launch in this fiscal, the company targets to sell about 1,500 units.
In North and East India, the company will primarily market these models and plans to open 50 dealerships in the first year. And the company will compete with some of the major industry players like Piaggio, Mahindra
Mahindra, Bajaj Auto and Atul Auto and expects to gain a "significant" market share within a year.
In later of 2012, exports will begin and the company is looking at many regions such as Africa, Latin America and the neighbouring countries like Bangladesh.
Currently, the National Capital-based Lohia Auto sells four models of electric two-wheelers. And it has a capacity to roll out 1,000 units of two-wheelers per day from Kashipur.
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