Ultra Motor Company, UK, unveils Aggressive Expansion Plans for India

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Ultra Motor Company, UK, unveils Aggressive Expansion Plans for India

Chennai, Ultra Motor Company (UMC), a global electric vehicle company based in UK has set itself aggressive plans to cater to the growing electric vehicle category in India for FY10. As a result of the aggressive retail expansion and marketing efforts in the last financial year, Ultra Motor has already touched the magical figure of 24,000 units which is 22% of the total electric vehicle category in India. In FY10 the company has set itself a target of 50,000 units and is set to expand their exclusive dealership network across India to about 300 retail showrooms by September '09. Ultra Motor also unveiled a new model of electric scooter called Marathon Lite which is a low speed electric scooter with 70kms per charge.

Speaking on the occasion, Mr. Joe Santana, Chairman, Ultra Motor Company, UK, said, "India remains one of the largest two wheeler markets in the world and hence continues to be the most important market for us. We remain focussed on our plans for the Indian market and are committed to develop the Electric Two Wheeler category in the country. We are pleased to have Mr. KK Bhan steer our Indian operations. He has the requisite background, expertise and the knowledge and we are confident of Ultra Motor earning greater acclaim under his leadership."

Ultra Motor Company is currently present in both "High Speed" and "High Range" category of Electric Two Wheelers in India. The products include a High Speed Electric Scooter 'Velociti' and a High Range Electric Scooter, 'Marathon'. The company today unveiled the much awaited low speed scooter called 'Marathon Lite' with a range of 70kms per charge. Marathon Lite comes with exciting new features like a 250w motor and 48V/20AH power packed battery, Magnetic Anti Theft Lock System, Spacious under seat storage option, Front Telescopic Suspension in Black, Yellow & Blue colour variants. The product is priced at Rs. 25,850/- . Marathon breaks the performance and price barrier and does not require any license or registration to ride on.

Speaking about plans for the year ahead, Mr. KK Bhan, Managing Director, Ultra Motor India added "I am very pleased to take over this new role. The growth of the electric vehicles in India has been phenomenal and Ultra Motor has been a major catalyst in this category. We plan to introduce more new and exciting products in FY10 and are looking at increasing our foot print pan India, especially in Semi Urban and Rural India. The key elements of our business strategy in FY10 would involve creating new and innovative products suitable for the Indian market, disciplined marketing spends, improving product reliability, enhancing battery life and generating category awareness. Ultra Motor also plans to sell Ultra Electric Kits in India to leverage its global/Indian R@D and Supply Chain strengths."

Through its continuous efforts on product development, aggressive marketing & distribution, Ultra Motor Company has set itself a target of 55,000 units and estimates that the category would reach around 225,000 units in FY10. In order to achieve its robust future plans, the company has already committed to invest Rs.150 crores in marketing, manufacturing and distribution, technology and

product development. The company is confident that the opportunity for Electric Two Wheelers will continue to grow in India by primarily converting the growing Scooter market and also up-gradation from the moped and the Bicycle Market.

Categories : Business / Economy | Chennai