The vehicle, which would be a fully-covered three-wheeler, would be sold as a personalised vehicle for customers wanting to upgrade from a two-wheeler to a car, Sahay said.

The company is yet to finalise the final price tag for the vehicle. The electric three-wheeler is priced in the Rs 1.60 lakh bracket. "This is among the several variants being planned on our electric three-wheeler - Vikram-EV. The product is presently being readied and would soon be introduced commercially," he added.

SIL is also planning several other variants on the same electric three-wheeler platform, which includes ambulances, an open-bodied version, a load carrier and a pick-up version.

"The personalised car would initially be produced in limited numbers and mass production would commence only after a firm policy and lower import duty for batteries are in place," Sahay said.

The company is presently at a concept selling stage with the car and is expecting the total electric car market to grow to 40,000 units over the next few years. "And, we are looking at capturing close to 50 per cent of the market with our vehicle."

Besides, the company is also planning to franchise its once-popular `Lambretta' brand name to other domestic scooter manufacturers. Recognising the massive brand equity that Lambretta carries, SIL has decided to approach several scooter manufacturers in the country for franchising the brand. However, it is not in favour of selling off the brand, Sahay said.

The company has already franchised the brands to some apparel manufacturers and merchandisers for use on their products. The Lambretta brand was purchased by SIL several years ago from Innochenti of Italy. The brand was being used on the scooters being produced by the company for export markets. The scooters were being sold in the domestic market under the Vijay, Super and Sunny brand names.

But the company later discontinued production of two wheelers and graduated to manufacturing three-wheelers. "We have now totally moved out of two-wheeler manufacturing and have no plans to venture back. SIL has made three-wheelers its core competency and intends to stick to it,'' Sahay said.