CNN-IBN

New Delhi, Jun 8: With petrol and diesel prices skyrocketing, wouldn't you wish you could do without using either?

Well, you actually could. A new bike, which is likely to hit the Indian markets soon runs on electricity and does not require any fuel.

The new e-bike manufactured by Avon cycles looks like any other bike.

But it's has a striking advantage. Avon claims the bike requires two to three hours of charging to take you around for about 40 kilometers.

Which means you wouldn’t need to go to a petrol pump ever!

But don't plan an adventurous getaway on the bike as its top speed is just about 23 kilometre per hour.

"The rising fuel prices make these bikes an attractive proposition and the cost of running them is also very low. We are targeting children, school going teenagers initially but will look at a broader target hereafter," says Director Avon Cycles Rishi Pahwa.

The bike has been manufactured in collaboration with British, South Korean and Chinese companies. However, Avon says it has plans to make it completely indigenous.

The electric beauty can be handled well, drives smoothly and silently and is friendly on the pocket as well. For just 10 paise for a kilometer, it surely won’t burn a hole in your pocket.

Initially, these e-bikes will be made available only in Punjab, Haryana and Delhi and will come with a one-year warranty.

With fuel prices on the rise, you may soon find these electronic bikes fast replacing their conventional counterparts.