Riding high on good response to its ultra-premium bike in overseas markets, Hero Eco Group is evaluating options to roll out ultra-premium A2B electric pedelac (pedal electric cycle) costing up to Rs 2 lakh in India this year.
"We are evaluating the options to launch our product -A2B bike- in India. (Currently) we are studying the market and decision will be taken in next 6-8 months," Hero Eco, MD, Naveen Munjal told PTI.
The company is showcasing its A2B electric pedelec costing Rs 1.50 lakh at Bicycle Expo being held in Ludhiana. Hero Eco has sold 8,000-9,000 units of A2B bike in over 22 countries including UK, the US, Germany, Canada in the past one year.
Targeted at urban consumers, this A2B bike is made of alloys and comes up with in-built lithium Ion battery. On a single charge (3-4 hours), it can run up to 70 kilometres. One of the A2B models runs on pedalling as well as by electric throttle. The bike is also equipped with regenerative braking system activating battery recharge as and when the bike is in idle position.
Acknowledging that the market for such high-end bikes are less than 1,000 units per annum in the domestic market, Munjal said the potential for A2B bikes could be in western and southern parts of the country. "The market for premium bikes like A2B in India could be a few hundred," he said.
Hero Eco rolled out A2B range of electric two wheelers for global market after it acquired two-wheeler division of UK based Ultra Motor last year. A2B bikes are manufactured in Taiwan. "From 2014-15, we will start assembling this bike in Europe," he said.
Vijay-Munjal led Hero Eco Group includes Hero Electric (electric vehicles maker), Hero Exports (automotive components and bicycle exports), and Mediva (medical mobility equipment).