NEW DELHI: The Indian middle class may be looking forward to Tata Motors' Rs one lakh car, the world's cheapest, but a bicycle maker who has launched a product that is a tad more expensive believes the future belongs to two- wheels with a pedal.
Domestic firm FireFox Bikes Pvt Ltd has rolled out a high-end bicycle worth a little over Rs one lakh for adventure enthusiasts. The company would source the bike from its US-based partner Trek.
The 'Fuel Ex 8 bike,' priced at Rs 1,06,000, is targeted at "very serious bikers... who enjoy riding bicycles," FireFox Managing Director Shiv Inder Singh said.
He said the initial response to the product has been quite encouraging and the company has already received orders to supply three units.
The bicycle sports features like hydraulic and gas-filled shock absorbers, disc brakes and 27 speed options.
"The latest bikes are for the urban kids. This sizable population has the tendency to facsimile the West, especially in their lifestyles. Since such bikes are a hit in the West, we expect a good response from the Indian buyers too," he said.
The company expects to increase sales to 60,000 bikes a year by 2011 from 12,000 units now, Singh said.
The Indian high-end bike market is growing every year and the company plans to bring the best mountaineering bikes first, he said, adding that the company had received a favourable response in the one year of Treks' operations in India.