Zuperia Auto enters electric passenger three-wheeler market, plans 2W entry in two years
Zuperia Auto Pvt Ltd
on Thursday forayed into the
electric passenger three-wheeler
segment targeting an overall revenue of Rs 1,000 crore by 2030.
The company, which is present in
e-rickshaw
as well as electric three-wheeler segments under brands Lohia and Youdha, plans to enter the two-wheeler segment in the next two years under a separate brand --
Zuperia Auto
Pvt Ltd, CEO Ayush Lohia told PTI here.
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Speaking at the sidelines of the launch of 'Youdha epod', an electric passenger three-wheeler, he said, the company is looking to accelerate growth going forward, while also adding new product variants.
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"Our target is to have an overall revenue of Rs 1,000 crore by 2030, from across the vehicle segments that we are present in. Growth will be driven by both passenger and cargo EVs, besides the e-rickshaw," he said.
He said in the last fiscal, the company sold around 10,000 units of e-rickshaws.
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"In the remaining months of this fiscal, we are looking to sell 3,000 units of Youdha epod," Lohia said, adding the company is looking to scale up sales in the following fiscal years.
The 'Youdha epod', priced at Rs 2.79 lakh, will compete with existing players such as Mahindra, Bajaj and TVS in the electric
three-wheeler L5 category
, he noted.
When asked about new products, Lohia said, "Our focus is on electric three-wheelers. We will come up with a wide body variant of driver plus six passengers going ahead."
He further said, "We also have plans to enter the
electric two-wheeler
segment in two years. But that will be under a completely different brand."
The company has an installed production capacity of 1 lakh units annually at its Kashipur facility in Uttarakhand.
The target for the company is to have capacity utilisation of 70-80 per cent in order to meet its 2030 target, Lohia noted.
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