PTI

Ludhiana: Avon Cycles Ltd said on 8 June 2007 it aims to sell 8,000 e-bikes by setting up 50 branded outlets throughout the country within this fiscal.

“So far we have sold 2,000 electric bikes and we expect to sell over 8,000 units by the end of this fiscal,” Avon Cycles Ltd managing director Onkar Singh Pahwa told reporters here.

“We have opened three exclusive showrooms for our e-bike venture in Ludhiana, Jalandhar and Cochin and we further plan to expand it to 50 by this fiscal end,” said Pahwa.

The company operates exclusive outlets under the name of ‘E-world´.

“With strong after sales support and availability of spares, the exclusive chain of outlets will play a vital role in revolutionising the market of e-bike segment,” said Pahwa.

The company has also tied up with GE Finance for financing the e-bikes. “The finance company has agreed to lend money at 13-14% interest rate for purchase of our bikes which will help us to push the sales,” he said.