And now, a Rs 2.4-lakh bicycle!

At a time when Indians are still drooling over Tata's Rs 1-lakh (Rs 100,000) wonder Nano, a bicycle from Firefox, costing more than two times the small car will make its debut at the upcoming Auto Expo in New Delhi.

Leisure bike maker Firefox will be displaying the bicycle model, Trek Equinox TTX 9.8 SSL, which will be available at a market price of Rs 2.4 lakh (Rs 240,000).

"As the country grows and develops, Firefox endeavours to transform the traditional image of cycling into a fun and adventurous sport. We are elated to introduce Equinox TTX 9.8 SSL of Trek bikes and there's no better platform than Auto Expo to showcase this bike," Firefox Bikes managing director Shiv Inder Singh said.

Firefox is an exclusive distributor of the United States-based Trek Bikes' products in India. The cycles are meant for hi-end bikers, Equinox TTX 9.8 SSL is customised for professional riders and is made up of carbon and rare alloys.

All the bikes will be imported from the US and be available in four different sizes. Last week, Firefox also announced plans to unveil bike called 'Kompac' priced Rs 8,840 during the Expo. Besides, this the company will also display its entire range during the fair.

The company had earlier announced plans to launch 15 new models by March 2010, besides opening 20 new outlets across the country, in addition to 50 at present.

Firefox Bikes has sold over 45,000 units since 2005. It currently sells around 50 models in India.