The Chennai-based two-wheeler maker TVS Motor Company on Friday launched its premium ‘Apache RTR 180' bike with anti-lock braking system (ABS) technology, priced at Rs.78,880 (ex-showroom Delhi).
“This is the first Indian two-wheeler which has come out with an ABS. This will enhance our brand value,” TVS Motor Company President (Marketing) H. S. Goindi told reporters here.
The company also announced its intention to re-enter the Indian electric scooter market with some existing and new models in the next fiscal.
At present, the company is carrying out test runs of about 50 electric scooters across various towns in the country.
“We are working on introducing electric scooters and these are being experimented for launch. By some time next fiscal, it will come to the market,'' Mr. Goindi said.
About 50 electric scooters, comprising some of its existing and new models, are being tested across the country. “We will launch only scooters in electric mode. The products will initially run on lead acid batteries and later we may develop some other technology,'' he said. The company will produce these new products at its Mysore facility.
Asked about the electric two-wheeler market, Mr. Goindi said: “business in India picked up few years back and also dropped because of variety of issues. Now, subsidy has also been offered, but still it is very sketchy. We feel business will again pick-up.''
TVS had earlier launched electric scooterette ‘Scooty Teenz Electric' in April 2008 with high hopes of selling around 40,000 units a year. However, it stopped the production in May 2009 as it received a lukewarm response from the market.
The company had also shelved its plans to launch electric three-wheelers. The budget for 2011-12 has proposed to set up a National Mission for Hybrid and Electric Vehicles to encourage manufacturing and selling of alternative fuel-based vehicles. It also proposed to cut excise duty on development and manufacturing of hybrid vehicle kits to 5 per cent from the existing 10 per cent, besides fully exempting customs and countervailing duties on import of special hybrid parts. In November last year, the government had announced a Rs.95 crore incentive package for the electric vehicle makers for the remaining part of the XI Plan.
Reviewing input costs
PTI reports:
The company said it was reviewing the movement of raw material prices and would take a decision on increasing the rates of its products by the end of this month. “The raw material prices are still very volatile and it is impacting us. Currently, we are doing the review and by the month-end, we will reach a decision,” Mr. Goindi said. The company had last increased the prices of its vehicles in January this year by 1-2 per cent, he added.
