Multivac hopes to sell 40,000 electric vehicles

Multivac India Pvt Ltd, a Delhi-based auto components maker, has introduced a range of battery operated vehicles (BOV) at the auto exposition in the city on Saturday.

The range of vehicles includes a bike, rickshaw and a cart for the physically challenged.

The company started commercial production of BOVs this year. It has so far invested Rs 2.25 crore and has a capacity of 100,000 vehicles.

It aimed at selling 10,000 rickshaws and 30,000 bikes in the year ending April 2005. This would help the company generate revenues of Rs 60 crore, said executive director Uday Karandikar.

He said the company had appointed six dealers in northern India and has received inquiries from 60 dealers in the western part of the country.

According to the executive director, the company was in talks with State Bank of India to help organise finance for customers.

"SBI's widespread reach suits us as we want to sell the vehicle in every nook and corner of the country," he said.

Priced in the range of Rs 35,000-45,000, the rickshaw range has three variants - passenger, cargo and combi. On a single charge the variants can travel 50 kms without peddling with a payload of 250 kg. The recharge time is 6-8 hours and the battery life is one year.