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Private Sector | Multi State - India | PID: 202963
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Lectrix EV, an electric mobility arm of the SAR Group aims to establish its niche in the two-wheeler segment. To concretise this plan, the company has planned several new model launches in both two-wheeler and commercial vehicle categories.
The company plans to invest Rs 100 crore in FY25 to expand charging infrastructure, to strengthen product manufacturing and marketing efforts, as also for research and development (R&D) of the products. Lectrix EV has recently launched its first e-scooter known as the ‘Eco’ model at Rs 50,000 and has sold over one thousand units till now, and further aims to sell more than 1.5K Eco models monthly.
For FY25, the company aims to triple its revenue, as it will offer a diverse portfolio across the range of two wheelers, and three wheelers for different customers. In the 2W market, it will leverage the dynamics to sustain and create a brand image. Its new 2W model is planned for launch pre-Diwali and one post-Diwali. The vehicle's expected price range is from Rs 90,000 to Rs 1.2 lakh. The second e-2W is going to be a high-performance scooter, followed by an expected launch of a high speed motorcycle next year. The bike will be launched next year.
The company which already has its presence in the 3W segment via e-rickshaws is planning to launch another vehicle next month. Yet another launch is expected to be in the quarter of FY25.
| Updated on: 03 - Jun - 2024
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