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Hero
Cycles to launch electric two-wheelers in collaboration
with UK's Ultra Motor
5 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.
According
to Ian Woodcock, chairman, Ultra Motor Company, UK, "Our
business model is to partner with leading vehicle companies
in different countries, to jointly develop and market
electric vehicles specifically designed to meet the requirements
of local markets. Together with Hero Cycles — the
largest manufacturer  of
bicycles on the planet - Ultra Motor Company's broad portfolio
of electric vehicle technology solutions will bring about
a paradigm shift in Indian transportation."
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