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Noida-based Lohia Auto Industries (LAI) is bullish on the Uttar Pradesh e-rickshaw market, which is growing rapidly in the major urban centres of the state.
LAI, the automobile division of Rs 600 crore Lohia Group, has drawn a blueprint to strengthen its presence in UP with the launch of new e-rickshaws and diesel three-wheelers.
"UP is a big market for e-rickshaws and we estimate the demand at 1,00,000 units in the next 2-3 years," LAI CEO Ayush Lohia told Business Standard here.
"There is a huge growth potential in UP, especially Lucknow and we are keen to tap into the opportunities in both personal and public transport space," he added.
LAI has set a target of selling 10,000 e-rickshaws in UP during the current fiscal and is increasing its number of dealerships in UP from 15 at present to 45 before December 2015.
The company is in the process of tying up with the non-banking financial companies (NBFC) for auto financing.
Apart from UP, the company is eyeing to expand footprint in Bihar, Jharkhand, Odisha, West Bengal and Delhi as well.
LAI has a manufacturing unit in Kashipur, Uttarakhand with annual capacity to produce 1,00,000 units of two and three wheelers. Lohia Group has diversified operations in sectors like automobile, handicraft export, retail warehousing, real estate, brass coil manufacturing etc.
The company exports to Bangladesh and Nepal. It is now exploring African market, he informed.
