New Delhi: Hero Cycles on Tuesday launched Lectro brand of electric cycles in the domestic market in collaboration with Japan’s Yamaha Motor Co Ltd and Mitsui & Co Ltd at ₹130,000.
The premium product is the first outcome of the three-way strategic partnership initiated last year between Hero Cycles Ltd, Yamaha Motor Co and Mitsui & Co Ltd. The alliance, brought together by Mitsui is aimed at creating technologically superior high performance products through collaboration, a joint statement said on Tuesday.
Hero Motors will manufacture the Lectro electric cycles at its Ghaziabad manufacturing unit which will also act as an export base for these products.
“We are proud to unveil Lectro EHX20 powered by Yamaha, the first collaborative product between Hero Cycles and Yamaha Motor. It is the first branded E-Cycle which is driven by a Center Motor and resultantly delivers a high performance experience suitable forextreme adventure sports. With promising days ahead for the E-cycle market, we hope to deliver more such path-breaking products for different sections of the Indian audience in the future," said Pankaj M Munjal, chairman and managing director, Hero Motors.
“Lectro EHX20 powered by Yamaha is a first of its kind product to be introduced in India. The electric vehicle segment or e-cycle in India has received a major push from the government in recent times and the market seems poised for unprecedented growth. It is imperative therefore that manufacturers offer a wide range of products in the e-cycle segment suitable for the needs of different sections of the audience," said Hiroyuki Ota, executive officer, Yamaha Motor Co Ltd.
