UK-based Ultra Motor Company (UMC) and Hero Cycles Limited (HCL) today signed an agreement to manufacture and market electric two-wheelers in India by January 2007.
Under the technical collaboration-cum-joint marketing agreement, UMC will provide electric vehicle (EV) technology, kit, including UMC patented ultra-motor electronic controller, and marketing support, Ultra Motor India MD V J Prakash said.
HCL will be responsible for assembly, manufacturing and service, the statement said.
Both UMC and HCL will also mutually work towards developing the EV business in India by investing in joint marketing of these ultra-powered electric two-wheelers and also setting up a retail and service infrastructure.
Source:
The Tribune