Bangalore-based, Eko Vehicles has launched a hybrid two-wheeler ET-120.
Built in association with US-based, Emerging Vehicle Technologies, the bike is powered by an electric motor and a 70cc petrol engine. The company claims the vehicle gives a fuel efficiency of 120 kpl. The ET-120 reaches a top speed of 65km/hour.
The ET-120 is expected to be offered at a price of around Rs40,000.
The company has also launched a scooterette called the Strike, which can be ordered with a battery capacity that suits the customer and is priced Rs22,000. The first Indian hybrid scooterette does not require any registration or road tax.
The company is in talks with investors for raising Rs37-47 crore by the end of January.
The company posted a turnover of Rs12 crore in 2008-09.