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Hero Ultra introduces electric scooters
Hero Ultra Pvt Ltd, a joint venture between Hero Cycles and the U.K based Ultra Motor Company, on Wednesday said it was planing to come out with a battery powered three-wheeler for the Indian market to be launched in the next 12-15 months.
Also, here Exports and Ultra Motor Company announced the conversion of their technical alliance into 50:50 joint venture to expand their operations in the country.
The joint venture, which sells electric scooters in India, is working on two prototypes for a global hydrid three-wheeker battery and CNG/diesel powered models.
Ultra Motor Co. U.K. Chief Executive Officer Joe Bowman told media persons here that the development of hybrid three-wheeler was complete and the commercial launch would take at least 15 months.
It would be a global model, which would be first unvelied in the India market.
The global launch of the hybrid product would be in India as it was the world’s largest three-wheeler market, he said, adding that the company had applied for homologation of the three-wheeler model.
The company also launched two new electric scootes – Velociti and Optima-priced at Rs. 29,000 and Rs. 34,000 respectively. Incidentally, it is already selling six electric bikes priced in the range of Rs. 14,400 to Rs. 27,900.
Targets
Hero Ultra has set a target to sell as many as 20,000 units this fiscal in the market that is projected to be around 60,000 units this fiscal, Ultra Motor Director marketing (India) Deba Ghoshal said.