TI Cycles launches Montra, India’s first indigenously-produced carbon frame bicycle that weighs just 8.5kg.
TI Cycles, part of the $3.2 billion Murugappa Group, has launched India’s first locally designed and manufactured bicycle with a carbon frame under the brand name Montra. The company has roped in Formula 1 driver Karun Chandok as brand ambassador for these high-end, lightweight bicycles priced between Rs 21,000 and Rs 1.5 lakh
The launch of Montra range — weighing just about 8.6 kg — comes in the wake of the growing demand for high-end, lightweight bicycles in India. Tested to match global performance standards, Montra bicycles will be positioned as a lifestyle product for adults in urban and semi-urban areas. The range will be available in three variants – one is a complete carbon bicycle while the other two will have an alloy frame and carbon forks with different features. The alloy range carries a starting price of Rs 21,000, while the carbon range starts at Rs 60,000.
These Montra bicycles will be marketed through TI Cycles’ retail outlets and major multi-brand outlets. The company intends to sell about 1,500 units during 2011-12. The average price of full carbon bicycles in western markets is about $ 1,700, while high-end bicycles made of aluminium are priced at about $ 800.
While TI Cycles has already been importing and marketing premium international carbon frame bicycle brands like Bianchi and Cannondale, the Montra range, which has been developed after two years of research, will be produced at the company’s Ambattur facility near Chennai through locally sourced materials. “We have made an investment of Rs 10 crore to design and manufacture Montra bicycles,” said D Raghuram, president, TI Cycles.
“With the Montra range, we have developed the capabilities to design and manufacture a wide range of performance bikes. We are already seeing strong growth for our mass premium bikes, priced,” Raghuram said. The premium bicycles segment in India is reported to be growing at 50-75 per cent. Sales of all premium brands put together have been around 11,000 units last year, he said. TI Cycles expects to end the current fiscal with sales of 4.15 million units against 3.6 million last year.