BSA Motors, a subsidiary of Murugappa Group company Tube Investments of India (TII) on Tuesday unveiled five models of electric scooters in the North, particularly the National Capital Region (NCR). The prices of the vehicles range from Rs. 19,450 to Rs. 27,000 (ex-showroom Delhi).
Addressing a press conference here, TII Managing Director L. Ramkumar said the company was aiming a turnover of Rs. 100 crore from its electric scooters business within the next one and a half years on the back of new product launches. The company had also earmarked Rs. 20 crore this fiscal for research and development and was undertaking partnerships with some Japan and U.S.-based firms for product development.
BSA Motors had made foray into the electric scooters segment earlier this year. It would launch two new electric scooter models in 2010. It would also double production at its Chennai plant within six months. He said the initial response to the company’s electric scooters had been good in the South and the company was now focussing on other markets.
“Our sales are now up to 1,200 units a month and we have a target of selling 15,000 units by March. In two years, we would record sales of at least 4,000 units monthly,” BSA Motors Vice-President K. B. Srinivasan said.
The company is looking to cash in on the growth witnessed by the electric scooter market that is poised to reach 1.4 lakh units this year, with around 10-15 per cent jump in sales.