The Business Bytes
TBB BUREAU
NEW DELHI, FEB 11, 2021
Ahoy Bikes has launched the world’s first electroluminescent-technology-based bikes for Indians. The newly launched Made-in-India bikes, with patented technology, provides a cycling experience with unparalleled safety on road.
The company plans to market its product across India with a wide dealership network-presently with 200 dealers. A wide range of luminous bikes will be available at prices starting at Rs 20,000.
“Ahoy Bikes, equipped with this new technology, provides unmatched road safety. The safety of our customers is our main motivation to bring in this new technology. Moreover, it adds aspirational value when it comes to cycling,” said Sandeep Sinha, Business Head, Ahoy Bikes.
The new cycles from Ahoy Bikes come equipped with an electroluminescent paint-like coating system, which emits light when an electric current is passed through it. Ahoy Bikes would also make customization options available.
“After several years of research and development, we are now able to launch one of the most innovative products in the market. Purpose-designed with an Indian signature these bikes would meet all the requirements of cycling enthusiasts and even attract kids to use it for fun,” said Abhishek Mitra, Director, Ahoy Bikes.
The industry was growing at 5-7 percent every year but because of the coronavirus pandemic, it is now expected to grow at 15-20 percent, led by a surge in first-time users, according to the All India Cycles Manufacturers Association. As per the industry data, India is the second-largest manufacturer of bicycles in the world and the country is the third-largest consumer of bicycles. It is worth mentioning that 22 million units are made in the country every year and the annual turnover is Rs 7,000 crore. According to industry numbers, 22 million cycles were sold in 2018-19, and 18 million were sold in 2019-20.
