"The cycles, imported from Germany, is targeted mostly at Mercedes car buyers," said Alexander Reuss, deputy general manager, after sales marketing, DaimlerChrysler India.
In Mumbai, the company is planning to launch the bicycle range through Auto Hangar, a Mercedes dealer in Mumbai.
The cycles are made from aluminium brass and operates on 27 gears. While Automatic Bike is priced at Rs 156,746; Mountain Bike and Fitness Bike are priced at Rs 112,655 and Rs 74,958, respectively.
The company has plans to launch bikes through its 29 service stations, including 14 dealers, across the country.
"We will be happy to sell 25 bikes in the first year of launch. As always, Mumbai is expected to be the largest market. Worldwide after its launch in 2005, the company sold about 300 bikes, mostly in Germany and Singapore," said Reuss.
"Auto Hangar is confident of selling 10-12 bikes a year," said S Venkatesh general manger, Auto Hangar India.