By IANS,
Chennai : Tube Investments of India Ltd, part of the Rs.95.82 billion ($2.3 billion) Murugappa group, inaugurated its new electric scooter plant here Thursday.
Tube Investments manufactures cycles, automotive and industrial chains, car door frames and steel tubes.
“The investment at the plant is around Rs.200 million. We will be launching the product sometime this September,” TI Cycles senior vice-president Arun Alagappan told IANS.
TI Cycles is the company’s cycle manufacturing division.
The initial capacity of the new plant will be 100 scooters a day.
He added that the battery-powered two-wheelers would be launched under the company’s popular bicycle brand, BSA.
Tube Investments will initially market the two-wheelers in south India, and based on the market responses it will be launched at national level later.
The company will appoint around 70 dealers in the Tier I and II cities in the southern region.
Initially the company will launch three low speed models, which will be priced around Rs.25,000 and two high-speed models at a market price of around Rs.36,000.
Alagappan said the company was now importing batteries and motors from China and Taiwan. But the firm had initiated talks with domestic battery makers for developing the products locally, he added.