Chennai: Bicycle manufacturer Tube Investments of India has forayed into electric bikes market with launching three models.
Priced in the range of Rs23,000 to RS36,000, the e-bikes would be marketed under the BSA brand, a company executive said today.
The low speed e-bikes would have a top speed of 25 kmph and the high speed models could run up to 40 kmph, he said, adding that the bikes would be manufactured at the company’s Ambattur unit.
The new manufacturing unit, set up at a cost of Rs20 crore, was inaugurated yesterday, he said. It would have capacity to produce 100 bikes per day.
The first bike would hit the market in September and the company planned to sell 4000 to 5000 e-bikes every month.
Considering ever increasing cost of petroleum products and no necessity for driving licenses upto 250 watt e-bikes, TI cycles was expected to make a dent in the Rs 450 crore e-bike market in the country, the executive said.