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The Hero Ultra a collaboration between Hero group and Ultra motors is on its way to become the country's largest electric two wheeler manufacturer. The two companies enter the join agreement in october 2006 and as a part of the deal, Ultra would provide the EV technology and kit, while Hero Cycles would manufacture the final product. With the increasing fuel prices and awareness about pollution caused by vehicles the electrically powered (battery powered) vehicles are suddenly getting lot of attention. Another big advantage that these electric bikes don't require registration or license to drive hence they are an instant hit within the 13 - 16 age group.
As a result of the aggressive retail expansion and marketing efforts, Hero Ultra has already touched the magical figure of 10,000 units of sales in mid November 07. The company aims at selling around 20,000 units by the end of March 08, thereby achieving a top-line revenue of around USD16 million.
Electric bikes (battery powered bikes
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