New Delhi: Lohia Auto, part of the diversified Lohia Group, plans to invest up to Rs 100 crore for setting up a new manufacturing plant by 2021 as it expects enhanced demand for its products.
The company also plans to double its electric vehicles product portfolio to around 20 models, including an e-bike, by the end of next fiscal.
“We are looking to invest Rs 100 crore on the new manufacturing plant which is expected to come up by 2021,” Lohia Auto Industries Ayush Lohia told PTI.
The company is in advanced talks with various state governments, including Telangana, Andhra Pradesh and Maharashtra, to set up the new facility, he added.
The new plant would roll out both electric as well as diesel products.
Lohia Auto currently rolls out its range of two- and three-wheelers from its Kashipur-based manufacturing unit, which has a installed capacity of 1 lakh units a year.
When asked about the challenges being faced by the electric vehicles industry, Lohia said lack of awareness about such products was one of the major impediments in the growth of the sector.
“It would be great if we could also get the kind of push LED bulbs received from the government. It will change the entire scenario,” Lohia said.
In 2014, US-based UM Motorcycles and Lohia Auto had formed a joint venture (JV) to roll out a range of motorcycles for the Indian market.
The JV also utilises Lohia Autos Kashipur facility in Uttarakhand to manufacture new products.