Hero Cycles, Ultra ink deal for electric 2-wheelers

UK-based Ultra Motor Company (UMC) and Hero Cycles (HCL) today signed an agreement to manufacture and market electric two-wheelers in India by January 2007.

"It is a marriage of our technology and marketing skills with their manufacturing and distribution strength," V J Prakash, managing director of Ultra Motor India, said in a statement.

Under the technical collaboration-cum-joint marketing agreement, UMC will provide electric vehicle (EV) technology and kit including the UMC- patented ultra-motor electronic controller and marketing support.

HCL, on the other hand, will be responsible for assembly, manufacturing and service, the statement said.