MUMBAI, MARCH 26
TI Cycles, a unit of Tube Investments of India promoted by the Murugappa Group, has launched a bicycle costing a whopping Rs 2 lakh.
The cycle is 3 to 5 kilos lighter than existing cycles and each aspect of the cycle has been handcrafted and fitted with tubeless tyres equipped with cutting-edge technology in the shock absorbers and gears.
The company hopes to ride with 7,000 people as more and more urban Indians are taking to cycles to reach their offices or ride it for recreational reasons.
Reports quoted that the cycle market in India is growing at a rate of 25 per cent annually.
TI Cycles has set up dedicated service centres for this cycle where it can be overhauled just like a car. Besides, the rider can also purchase genuine spares, components, merchandise as well as cycling apparels.
TI is planning to invest around Rs 10 crore to market and retailing these cycles and is aiming to sell more than 1,000 units in the next fiscal.
