Lohia's Ambitious Plan for Electric Mobility: Calls for Policy Support and Expansion

Lohia's CEO, Ayush Lohia, emphasizes the crucial need for long-term government policy support to promote electric mobility. He urged for the implementation of the FAME 3 scheme and highlighted the company’s plans to expand its electric three-wheeler range and sales network, with significant investment in R&D and market penetration.

Lohia CEO Ayush Lohia stressed the necessity of long-term policy support for electric mobility in the country. Lohia advocated for clear, robust government policies akin to the FAME 2 policy for sector growth.

'We need full-hearted support like FAME 2 policy...there should be a clear vision that the policy support would be there for at least the next five years,' Lohia told reporters.

The industry expects clear policy actions, he added, urging the government to introduce the FAME 3 scheme with full vigor.

Phase II of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) India scheme expired on March 31, 2024. The government is working on the FAME III scheme to boost electric mobility, likely to be implemented soon.

Lohia also called for including the electric vehicle segment under priority sector lending to ease customer purchases and emphasized the need for a battery-swapping policy.

On Tuesday, Lohia announced the company's plan to expand its electric three-wheeler range, aiming for a significant presence in the competitive entry-level market. Five new models of battery-operated rickshaws will be unveiled by the month's end.

'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,' Lohia said.

The company plans to invest Rs 20 crore this fiscal year in research and development, infrastructure expansion, and market penetration, with a goal to double its sales volume to 10,000 units and expand its dealership network to 200 by the fiscal year-end, Lohia added.

(With inputs from agencies.)