Tube Investments of India
 
Tube Investments of India
Tube Investments of India Ltd.
Formerly TI Financial Holdings Ltd.
TI Cycles piloting motorised cycle
 
Bicycle manufacturer TI Cycles of India, which is part of the $3 billion Chennai-based Murugappa group, has introduced a motorised cycle. The company is piloting the product in parts of Tamil Nadu.
Speaking to Business Standard, D Raghuram, president – bicycles and fitness, TI Cycles of India, said the pilot was launched recently at Cuddalore and based on the success, the company would launch more such cycles targeting existing customers in rural and Tier II and III cities.
The cycle is operated through a battery and can run up to 40 km with an average speed of 20 km per hour. If the battery goes off in the middle, the cyclist can also pedal.
The motor, which is being manufactured at the company’s Ambattur facility, near Chennai, costs Rs 9,000. The battery can be fixed by mechanics trained by TI Cycles. The company currently is training 100 people in Tamil Nadu and plans to launch the programme in Andhra Pradesh, Raghuram said.
According to him, around 10 million cycles are sold in India, of which five million are bought by farmers, traders and workers.
TI Cycles of India gained 30 per cent market share in 2008-09 by selling three million bicycles.