SAR Group, which is into power products among others, has entered the automobile sector by opening an e-bike showroom in Jalandhar.
The company plans to invest Rs 200 crore over the next five years in the venture and also set up a plant in Himachal Pradesh.
“The two-wheeler market in north India, especially in Jalandhar, is fast growing. Hence we look see it as one of our key target markets for the future,” said Vikas Arora, regional sales manager, Lectrix Motors Limited.
The domestic e-bike market is pegged at Rs 500 crore and expected to grow to Rs 600 crore in the next 4-5 years, he said.
