Lectrix EV to Invest INR 100 Crore in FY25 for Multiple EV Launches
Lectrix EV, a division of the SAR Group specializing in electric mobility solutions, has announced an ambitious investment of INR 100 crore for the fiscal year 2025.
This strategic move aims to bolster its market presence in the competitive electric vehicle (EV) sector by launching a series of new models in both the two-wheeler (2W) and three-wheeler (3W) segments.
Pritesh Talwar, President of EV Business at Lectrix EV, expressed confidence in the brand’s potential to carve out a significant niche in the 2W market. The company recently introduced its first e-scooter, the ‘Eco’ model, priced at INR 50,000. Since its launch, over 1,000 units have been sold, and Talwar aims to increase monthly sales to over 1,500 units, indicating strong consumer interest.
Looking ahead, Lectrix EV plans to launch a new 2W model before Diwali and another after the festival, focusing on enhanced range and performance with expected prices between INR 90,000 and INR 1.2 lakh. The company is also developing a high-performance scooter and a high-speed motorcycle slated for release next year. Additionally, Lectrix EV will introduce an improved e-rickshaw model in the upcoming quarter of FY25.
The company, known for its commitment to innovation and sustainability, aims to triple its revenue in FY 2024-2025 through these strategic launches. Lectrix EV’s investment will also fund the expansion of charging infrastructure, product manufacturing, and research and development (R&D). This investment is internally funded by the company’s founders, with no immediate plans for external financing, though it remains a possibility for the next financial year.
Founded with a vision to revolutionize the EV market, Lectrix EV has steadily built a reputation for quality and reliability. The company’s diverse product lineup is designed to cater to a wide range of customers, from daily commuters to commercial operators, reinforcing its position as a key player in the EV industry.