Ultra Motor to set up its second e-bike manufacturing facility in India
Ultra Motor India Pvt. Ltd. (UMI), the Indian subsidiary of the UK-based Ultra Motor, is looking at setting up another e-bikes manufacturing facility in India, somewhere in the north. The company already has a manufacturing facility in Hyderabad.
UMI plans to invest Rs 150 crore towards product development, and the marketing and distribution of its electric scooters and bikes in India. The company aims at catering to the requirements of southern and western markets in the country via its plant in Hyderabad, and is looking at setting up its second plant somewhere in north India, to cater to market requirements from other parts of the country.
UMI, which has a sales target of 45,000 e-bikes this year, recently launched the Marathon, which has a range of up to 100km and which is priced at Rs 32,000 ex-showroom Chennai. With the rising prices of petrol, a certain section of entry-level scooter/motorcycle buyers are now switching to electric power, and UMI is trying to leverage that development.
[Via: Indiaautomotive]
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