Bicycle manufacturer TI Cycles, a part of the $3.2 billion Murugappa Group, on Thursday introduced India's first bicycle made from carbon, 'Montra'.
The cycle, targeted at urban adults, is priced between Rs 21,000 and Rs 1.5 lakh. The Chennai based company has manufactured the bicycle at their Ambattur facility and aims to sell about 12,000 units this year, according to TI Cycles India President Dr Raghuram.
"We are happy to introduce these bicycle manufactured at our Ambattur facility. We have considerably invested on its design and product," he said after unveiling the bicycle. The company on the occasion also introduced its new Montra range of bicycles made of alloys.
Last year, the company sold 3.6 million units and this year, they expect to sell around 4.15 million units, he added.
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