Tube Investments of India Ltd.
TI Cycles to launch Pedelec next March
Murugappa Group’s flagship company TI Cycles of India is all set to increase its business by 50 per cent in the segment of electric scooters and bicylces in the next financial year, riding on the renewed interest in electric bikes and the battery-powered bicycles ‘‘Pedelec’.
A division of Tube Investments of India, TI Cycles of India is targeting a revenue of `30 crore through the sale of its electric vehicles this financial year, according to D Raghuram, President, TI Cycles.
He also said that the TI Cycles division had made a revenue of `900 crore last year and efforts would be made to record a robust growth in revenue this year.
Meanwhile, A Vellayan, Chairman, Murugappa Group, on Monday, received a team of six senior executives of TI led by Raghuram at the company’s headquarters Dare House in Chennai, on their completion of a 743-km coast-to-coast ride from Kollam in Kerala to Chennai.
“It was an effort to make the ‘BSA Hercules electric coast to coast’ ride a grand success as it also involved the testing of the electric bike under all conditions,’’ added Raghuram.
The Pedelec, powered by a 24 volt batery, would be launched by next March with a price band of `7,000 to `12,000.
Rajesh Mani, General Manager, Marketing, TI, exuded confidence that Pedelec would find patronage among the youngsters, all because of its stylish and eco-friendly nature.
Pedelec’s battery, on a single charge lasting 8 to 10 hours, would give a comfortable 40-km ride at a stretch.
Using the subsidy element of `4,000 per bike which was announced by the Union Minisry of Renewable Energy recently, TI would want to give a great push to its BSA electric scooters in the coming days.
A division of Tube Investments of India, TI Cycles of India is targeting a revenue of `30 crore through the sale of its electric vehicles this financial year, according to D Raghuram, President, TI Cycles.
He also said that the TI Cycles division had made a revenue of `900 crore last year and efforts would be made to record a robust growth in revenue this year.
Meanwhile, A Vellayan, Chairman, Murugappa Group, on Monday, received a team of six senior executives of TI led by Raghuram at the company’s headquarters Dare House in Chennai, on their completion of a 743-km coast-to-coast ride from Kollam in Kerala to Chennai.
“It was an effort to make the ‘BSA Hercules electric coast to coast’ ride a grand success as it also involved the testing of the electric bike under all conditions,’’ added Raghuram.
The Pedelec, powered by a 24 volt batery, would be launched by next March with a price band of `7,000 to `12,000.
Rajesh Mani, General Manager, Marketing, TI, exuded confidence that Pedelec would find patronage among the youngsters, all because of its stylish and eco-friendly nature.
Pedelec’s battery, on a single charge lasting 8 to 10 hours, would give a comfortable 40-km ride at a stretch.
Using the subsidy element of `4,000 per bike which was announced by the Union Minisry of Renewable Energy recently, TI would want to give a great push to its BSA electric scooters in the coming days.
