India`s Lohia Group to launch electric vehicles this year
Bloomberg.com: May 19,2008
New Delhi (ANTARA News/Asia Pulse) - Diversified business house Lohia Group on Wednesday announced a foray into the Indian automobile sector with a Rs 1.5 billion (US$35 million) investment to launch electric two and three wheeler vehicles in the second half of this year.
The group, which has set up a subsidiary - Lohia Auto Industries, will set up a greenfield manufacturing facility at Kashipur in Uttarakhand with a production capacity of 200,000 units per annum, scalable up to 800,000-1,000,000 units in the future.
