"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 stated to reporters.
The CEO also called for the electric vehicle (EV) segment to be included under priority sector lending, which would ease purchasing challenges for customers. Additionally, he emphasized the necessity for a battery-swapping policy.
"Our expectation from the government is that bring FAME 3 scheme with full throttle," Lohia said.
He announced that Lohia will be expanding its electric three-wheeler range to capture a segment of the competitive entry-level EV market. The company plans to launch five new models of battery-operated rickshaws by the end of the month.
"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 noted.
The firm is set to invest INR 20 crore during the current fiscal year to enhance its research and development, infrastructure, and market reach. This is part of a broader strategy to double its sales volume to 10,000 units within the same period.
Lohia mentioned the intention to double its sales network from 100 to 200 dealerships by the end of this fiscal year.
(Source-PTI)
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