Hero Cycles to launch electric two-wheelers in collaboration with UK''s Ultra Motor

05 January 2007

Mumbai: The fast growing Indian automobile industry will soon witness the emergence of electric two-wheelers. The world''s largest bicycle manufacturer, Ludhiana-based Hero Cycles Limited (HCL), in technical collaboration with UK-based electric vehicles company Ultra Motor Company (UMC) has announced the launch seven variants of e-bikes and e-scooters, branded "Hero Electric.

The vehicles are priced between Rs.15,000 to Rs. 20,000 and E-Scooters are in the range of Rs. 24,000 to Rs. 28,000. The running cost of these vehicles, the company says, is just a tenth of the conventional petrol driven two-wheelers while maintenance costs just a third of a conventional two-wheeler. Depending on the model of two-wheeler, a single charge can last between 40km and 70km, with the running cost being an unbelievable 10 paise per km — the cost of charging the battery.

To ensure appropriate technology behind this launch, Hero Cycles Limited has signed a technical collaboration-cum-joint marketing agreement with Ultra Motor Company, to produce and jointly market this new range of electric two-wheelers in India. The electric two-wheelers will open up a new segment of value conscious consumers. Low running cost will be the major catalyst for these environment friendly vehicles.

"In a market where there are 1.6 million two-wheelers sold every month (including bicycles, scooters and motorbikes), these technologically advanced yet affordable electric two-wheelers will definitely herald a major change in the Indian two wheeler industry," Vijay Munjal, managing director, Hero Cycles Limited.

The two-wheelers will be equipped with Ultra Motor''s "Power Pack", consisting of its motor, electronic controller, specialised battery and charger, which Hero Cycles will integrate and assemble.