Genxt Power India has launched Moicle, a 25cc, battery-operated two-wheeler, and is planning to hit the capital market to raise up to Rs 35-40 crore in the next six months.Vishwas Panse, president of Genxt Power, said: "Moicle can carry a load of 100 kgs at a maximum speed of 25 kms per hour, which is ideal for small towns." The battery consumes less than 2-2.5 units of power for a single charge, and runs a total distance of 45 kms, he said, adding, the vehicle is priced at Rs 18,500.The company is targetting school and college students, housewives who have to travel short distances and people dwelling in remote areas where fuel is not available.The company plans to invest about Rs 70 crore for the project, which includes launching four models - Moicle II, E-move, Powerx and Hybrid - with a capacity of about two lakh vehicles per annum, Panse said.The company has set up a network of 60 dealers and sub-dealers in Maharashtra and Gujarat, and the vehicle would be made available in other parts of the country in three months.
