Luxepower (electric powered smart vehicles) was founded in September 2018. Our tagline describes us the best, “pursuit of sustainable autonomous& affordable auto. Luxepower aims to establish as one of the leaders in the electric vehicle market with innovation. In order to have control of electric vehicle market we are working towards developing a strategy to produce affordable electric vehicle, that will maintain Luxepower core values and allow us to compete on a wide scale with electronic vehicles and hybrid and Gasoline cars.

After taking everything into consideration, we believe that our strategy will enable Luxepower to gain market share, gain brand awareness, generate brand loyalty and earn profits. We have penned our plan of action for Luxepower as follows: At Luxepower we are making smart, intelligent, high performance and safe, efficient, attractive, autonomous electric cars by developing our own supercharging, urban supercharging and destination charging infrastructure across the country.

Considering our target customers’ profession and living initially we will create high end electric cars in the luxury segment for a smaller target i.e high affordability peoples’ market. Initially our target customers will be entrepreneurs, business persons, celebrities, politicians; next we plan to create pocket friendly affordable luxury electric cars for budget segment in the average spending ability market. Finally Luxepower will enter into the mass market with it’s affordable cars. In the process we will develop our fast charging, urban supercharging, slow charging chargers’ infrastructure at every 250km on highways and in urban areas across country by 2025. In 2024 we will build 7GWH annual capacity lithium batteries manufacturing factory to reduce 22% cost of battery pack.

It will help us grow the potential target market. This will allow to more customers to get their hands on a fully electric vehicle at a price affordable to them. We want to make Luxepower a famous national and international brand in future. We will give more options to buy the electric vehicles as our customers needs’ consideration such as range, budget, daily use and profession.We will also introduce variety of programs in order to improve brand loyalty as well as giving more options by organizing the test drive India campaign in major cities of India.

Luxepower will ship its first carin May 2022. We will ship our cars directly to customers’ given addresses through our nearby service centres. We will host the test drive India campaign in major cities of India after the fully functional prototype passes all test runs. This will give a chance to the potential drivers to drive the car and to place a reservation / booking. We will reach our target customers through magazines, blogs, newspapers, social media, Google ads, company’s website, billboards and third party websites.

The demand for our electric cars is estimated based on the growing electric car market over the next five years in India and abroad. As the Govt. of India is taking a lot of steps toward usage of green energy and electric vehicles, we look forward to collaborating with the Govt. too. In first year of production we aim to sell 1500 high end luxury electric cars in 2 quarters; we plan to increase our ability to increase production if the market grows beyond our estimation. By 2027 total passenger car market will reach at 30 billion USD$. In next 8 years our total addressable market for mass market considering affordable cars is 61.3 Billion dollar. By 2026 we aim to have 4% market share in Indian automotive passenger vehicles market.In 2022 total luxury electric cars market will be around 400Milion USD$ andeventually it will grow to 1 billion US dollars by 2025. From 2022 to 2025,addressable luxury electric car market is around 2.3 billion us dollars. In 2024 we plan to issue shares throughInitial Public Offering mode.