The Pune-based company, partly owned by entrepreneur Kapil Shelke and his father, and funded by two angel investors -- Ankit Bhati and Bhavesh Agrawal of Ola Cabs in their personal capacities -- has so far developed five prototypes of electric bike and the one it plans to commercialise is the fifth model called T6X.
Shelke is a mechanical engineer from the Pune University and started the firm in 2009.
Asked if it needs more cash to begin production, Shelke said the company is adequately funded.
On cost of product development and foreign technology partner, Shelke answered in the negative.
"Barring the lithium batteries, we have no imported spare parts nor any technology tie-ups," he told PTI here over the weekend.
He also claimed that the company has almost readied a manufacturing plant at Chakan near Pune, with an installed capacity of 50,000 units a year.
On facility for public charging of the vehicle, Shelke said the company has already set up two charging stations in Pune and one at Lonavala.
Initially, there are plans to launch at least 100 charging stations per city prior to or along with the commercial launch in Pune, Bengaluru and Delhi in the first phase and Mumbai and Hyderabad in the second phase.
Shelke said his prototype has already cleared electric motorcycle racings like Isle of Man TTX-GP or the TTX-GP Championship over the past six years.
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