Business Daily from THE HINDU group of publications
Thursday, Sep 13, 2007
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Business Daily from THE HINDU group of publications Thursday, Sep 13, 2007 ePaper |
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Corporate
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Alliances & Joint Ventures Marketing - Channels and Franchises UK’s Ultra Motor to sell e-bikes through Reliance retail outlets
Our Bureau Ahmedabad, Sept. 12 UK-based Ultra Motor Company today announced signing a distribution memorandum with Reliance Retail Ltd to market the electric battery-run two-wheelers launched recently by Ultra Motor in association with its Indian partner, Hero Cycles Ltd. Under the terms of the agreement, Reliance Retail will exclusively sell the ‘Ultra Powered’ LEVs. The distribution agreement with Reliance Retail will enable Ultra Motor to move beyond exclusive dealer outlets and foray into organised retail outlets. In collaboration with Hero Cycles, Ultra Motor will also assist with after-sales service and marketing. The product range consists of seven models of LEVs including electric bicycles and scooters co-branded as “Hero Electric” and driven by the “Ultra Powered” technology. The e-bikes are priced between Rs 14,300 and Rs 19,500 and e-scooters are in the range of Rs 22,500 and Rs 28,000. The LEVs launched by Ultra Motor run at a tenth of the running cost of conventional petrol driven vehicles with a maintenance cost 30 per cent lower than a conventional motorcycle. Depending on the model of Ultra Powered LEV used, a single charge can last between 45 km and 70 km, the release said. Commenting on the development, Mr Joe Bowman, Chief Executive Officer of Ultra Motor Company, said: “With this agreement, for the first time in India, electrical vehicles will be made available to public through organised retail outlets.” More Stories on : Alliances & Joint Ventures | Channels and Franchises | Two/Three Wheelers | Non-conventional Energy
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