Hero introduces new Electric vehicles in collaboration with Ultra

http://img36.picoodle.com/img/img36/...mm_f29b5af.jpgNow the will be called as Hero Ultra

Hero Group has struck a deal with British electric vehicle company Ultra Motors to introduce electric vehicles (EV) in the country.

Ultra Motors has signed a technical collaboration-cum-joint marketing deal with Hero Cycles for bringing out electric two-wheelers. Though at a nascent stage, the entry of a large 2-wheeler group like Hero could make the market for e-vehicles a vibrant one.

As a part of the deal, Ultra would provide the EV technology and kit, while Hero Cycles would manufacture the final product which would be launched in January next year.

The vehicles themselves would be under Hero’s brand with a co branding arrangement wherein they would also sport the tag ‘Ultra Powered’. The USP of EVs revolves around minimal maintenance cost with zero emissions.

Starting January ‘07 the venture would establish 50-75 exclusive showrooms across 16 cities over a period of one year.

As per the plans the venture will bring out 3 electric vehicles initially with an entry level e-bike which would retail for about Rs 12,000-Rs 15,000. This apart there would be a higher powered e-bike plus and an e-scooter.

The entry level product, which would not require vehicle registration, would be targeted at kids while the ebike plus would be for institutional sales where companies with a delivery fleet would be targeted.