India Broadband Forum

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Ultra Motor, a UK based two-wheeler company is planning to invest Rs. 150 Crore in India in the coming three years. This is to expand its operations and for the launch of new products, 5 new e-scooters in this year and an electronic bike in coming two years. The Delhi state government has offered tax benefits to the company for environment friendly electronic vehicles and this has helped the company in reducing there prices by 24 percent. The company is planning to invest in India to tap the rapidly growing market for environment friendly vehicles, to come out with there production unit and for product development. Due to price reduction by over Rs. 9400/- the company had made a target of 20 million dollar turnover within this year.