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New Delhi, Jan 4 Bicycle manufacturer Hero Cycles has launched a range of electric bikes and scooters in technical collaboration with the UK-based Ultra Motor here on Thursday.
The bikes have a maximum speed of 25 kilometres per hour and run for about 45-50 kilometres on a single charge. The electric bikes come in the range of Rs 15,000 to Rs 20,000 and the electric scooters in the range of Rs 24,000 to Rs 28,000. These bikes and scooters come fitted with hub-mounted direct current motor of a capacity of up to 250 watt. The company has set up a manufacturing facility for that at Ludhiana in Punjab with an investment of Rs 50 crore.
According to a recent A C Nielsen market survey, the electric bike market in the country stands at around 5 lakh units. There are at least 10 small players such as Electrotherm India and Ace Motors in the country’s electric two-wheeler market. The leading companies are currently manufacturing about 2,000 units of such bikes.Hero Cycles expects to sell about 1 lakh units ofbattery-operated electric two-wheelers in the coming 15 months. “The electric bike market in the country is at very early stage this time and it would take at least 4-5 years to mature," said an auto analyst.
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