— PHOTO: R. V. MOORTHY

EXPANDING PORTFOLIO: Vijay Munjal (left), Managing Director, Hero Cycles, and Ian Woodcock, Chairman, Ultra Motor Company, U.K., launching electric two-wheelers in New Delhi on Thursday.

NEW DELHI: The Hero group on Thursday announced its plan to foray into the electric three-wheeler segment, enlarging the scope of its core portfolio of bicycles and two-wheelers.

The group launched its unique range of two wheelers — seven variants of E-Bikes and E-scooters here. The U.K.-based Ultra Motor will give technical support for manufacture of both electric two-wheelers and three-wheelers.

Hero Cycles Managing Director Vijay Munjal told media persons that the company was likely to launch the three-wheelers either by the end of the year or by early next year.

The company was looking at both goods and passenger carriers.

"At present we are testing the prototype of three-wheelers developed by Ultra Motors in Indian conditions and it will take another six months," he said.

The group had already invested about Rs. 50 crore on the new facility for electric vehicles in Ludhiana. The facility could be further expanded for the three-wheeler venture, he said.

Ultra Motor Chairman Ian Woodcock, who was present on the occasion, said his company had the three-wheeler technology market-ready and it could be rolled out by late this year or early 2008.

Commenting on the partnership with the Hero group for the new venture, he said: "We already have an existing relationship with them and it makes sense to extend it further.''

The electric two-wheelers, which are marketed under the brand name `Hero Electric,' come in the price range of Rs. 15,000-20,000 for bikes and Rs. 24,000-28,000 for scooters.

The technical tie-up with Ultra Motors envisages that Hero would assemble, manufacture and service the electric vehicles, whereas the former would provide the electric vehicle technology, besides providing marketing support.

Asked if there was a possibility of the two partners extending their relationship to four wheelers, Hero Corporate Service Chairman Sunil Kant Munjal declined to comment. "At present we are focussing on what we are doing and that is the electric two wheelers, which we consider has a great potential in India.''

To roll out LEVs in Q1

The Hero group plans to roll out the light electric vehicles (LEVs) in North India during the first quarter of this calendar year and then gradually expand to the West by the second quarter, South (third quarter) and East and Central India in the fourth quarter.

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