…says Ayush Lohia, CEO, Lohia Auto Industries
Could you please share the experience of Lohia Auto Industries in EVs?
Our experience in EV has been full of new learnings. Though it is more than a decade old in India, EV industry is still at a very early stage, looking for the basic solutions which can give some strength and power to hold its ground in the Indian automotive sector. Customer response and demand has been good under FAME I but still customer awareness, infrastructure and government long term policy has been the challenges. EVs have huge potential in India as it overcomes the challenge of high oil import and pollution.
What kind of opportunities are you eyeing in the EVs space?
Lohia Auto is currently in electric 2W and 3W and will be launching its new series of product line soon. We are looking for strategic alliances in vehicles to grow our portfolio and in key components of EV.
Your outlook for EVs market in India
EV in India has tremendous future. Assuming that the Indian automotive industry grows at a modest rate of 10 per cent YoY, than by 2030 total industry size will be more than 3 times of the current level. And if by 2030, EV accounts for 30 per cent of the total new vehicle sales, it will be a great achievement.