Murugappa forays into electric bike segment

  • 27/08/2008

  • Asian Age (New Delhi)

HYDERABAD Chennai-based Murugappa group will foray into e-bike segment to tap the prospective demand for electric vehicles. TI Cycles, a Murugappa group firm, would launch three models in the first week of October in southern states. It will expand its network to the north in January 2009. Announcing the company's plans, general manager, Mr K.B. Srinivasan, said, "A large chunk of India's population does not commute or drive because of certain constraints. This includes women, elderly citizens and youth under 18 years of age. We are looking to target this group.' Of the three models, Mr Srinivasan said two would be in the 250 watt segment, while the third one would have two variants