Hi-Bird Group forays into electronic 2-wheelers market

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HI-BIRDLudhiana-based cycle maker Hi-Bird Safari Group today announced its foray into the Rs 600-crore electronic two-wheelers market and plans to sell 10,000 e-bikes in one year.

"New electric scooters in line with the go-green goal have been launched to complement efforts to reduce air polluting vehicle emission and we plan to sell 10,000 units in one year," Hi-Bird Safari Group Managing Director R D Sharma said.

The incentives offered by the Centre on e-bikes encouraged the company to enter the e-bike market, Sharma said.

The Ministry of New and Renewable Energy offers discount of Rs 4,000-5,000 on two wheelers, with its Rs 95-crore incentive scheme, he said.

Moreover in Union Budget 2011-12, the Centre granted full exemption from custom duty and concessional central excise duty extended to batteries imported by electronic vehicles market.


[Source:PTI]

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