Speaking to media persons here on Tuesday, K B Srinivasan, said, "we will have three models in the 250 watt category and one model each in the 500 watt and 800 watt category. The price would range between Rs 26,000 and Rs 35,000. Initially, our focus will be in Tamil Nadu, Karnataka, Andhra Pradesh and Kerala. We will have about 40 dealers in the four States by November 2008 and take it up to 70 by March 2009. After about six months of launch, we will start foraying into the other markets. However, in January 2009, we intend to have about 10 dealers across New delhi, Chattisgarh and Chandigarh." The company is working on setting up charging stations for the electric scooters in several places including IT and ITES companies and huge parking lots. It is also looking at establishing a franchisee network which can be used by the customers to charge their vehicles for some fees.
The company is targeting sales of 50,000 vehicles by March 2010. This should account for 20% -25% share in the electric scooters category. Export option is also been looked at but the company would pursue it sometime in June 2009. "Middle East and Africa are potential markets. Lot of enquiries are coming. Infact 2-3 Gulf based automotive trading companies have expressed interest in distributing our products but we have not yet taken any decision," he said.
Talking about two-wheeler finance, he said banks are going slow on extending two-wheeler loans because of the higher delinquency rate. "But we are sure of extending at least two options for EMIs to our customers in each State. DBS Chola, which is part of the Murugappa group, would obviously be one option and we have also done other tie ups for two-wheeler finance," he said but refused to give further details.