Launched 1,250 Watt electric scooter ‘Edge’; targeting 6,000 scooters per year; exports halved in current fiscal: Tube Investments of India
L Ramkumar, MD of Tube Investments of India said that the company is expected to clock in 500 units a month after 6 months in scooter business. The company has launched 1250 Watt electric scooter ‘Edge’ and is targeting 6,000 scooters per year. Profits are expected to be higher than Rs 110 crore in FY10. The company is witnessing 20%-25% growth in the bicycle segment. Exports have halved in the current fiscal. However, domestic growth is more than compensating for exports slowdown. Bicycle growth is mainly in the rural segment, he added.
BSA Motors launched electric scooter, Edge in the Auto Expo. Scooter has motor rated power of 1250 Watt and is priced at Rs 35,500/unit. BSA Motors is business unit of Tube Investments of India. Edge is expected to boost the revenues by 20%. Tube Investments of India is targetting 20% share in electric scooters market and is looking at turnover of Rs 100 crore through this business.
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