The e-rickshaw, which has been certified by Automotive Research Association of India (ARAI), comes with 1,000 W motor and can cover a distance of 90 kms on a single charge, he added.
Two-wheeler maker Hero Electric on Thursday launched an electric rickshaw 'Raahii' priced at Rs 1.10 lakh (on road, Delhi).
"We are highly ecstatic on launching this innovative model of e-rickshaw. Raahii is designed to ease the hassles that daily commuters and drivers have to go through while travelling," Hero Electric CEO Sohinder Gill told reporters here.
The e-rickshaw, which has been certified by Automotive Research Association of India (ARAI), comes with 1,000 W motor and can cover a distance of 90 kms on a single charge, he added.
The vehicle comes with various features like internal LED light for passenger and driver and USB mobile charger for driver, side curtains and inclined back support for passengers. It will be sold through the company's 120 dealerships.
"We have already sold more than 1 lakh electric two-wheelers till now and expect to sell a lot of e-rickshaws in states like West Bengal, Uttar Pradesh, Delhi and Gujarat," Gill said.
Besides, the company is looking at developing markets in south India, he added. The company is also working on an upgrade of Raahii which it plans to launch shortly, Gill said.
Hero Motocorp stock price
On April 01, 2015, Hero Motocorp closed at Rs 2655.60, up Rs 13.00, or 0.49 percent. The 52-week high of the share was Rs 3271.80 and the 52-week low was Rs 2110.00.
The company's trailing 12-month (TTM) EPS was at Rs 123.37 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 21.53. The latest book value of the company is Rs 280.43 per share. At current value, the price-to-book value of the company is 9.47.
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