Chennai, Feb 10 (IANS): Indian Institute of Technology (IIT) Madras-incubated startup Pi Beam on Wednesday unveiled an electric two-wheeler -- PiMo -- that can charge faster than a smartphone and has a range of 50 kms.

PiMo is a utility e-bike that is targeted towards personal and commercial needs. The electric two-wheeler does not require license or registration and offers green and easy mobility on Indian roads.

"Pi Beam's PiMo, having 90 per cent of components manufactured in India, is a stylishly designed two-wheeler offering a range of 50 kilometres on a single charge with a top speed of 25 km/hr," Manu Iyer, Advisor, Pi Beam and Investor-Director, said in a statement.

"PiMo should be the catalyst to kickstart a revolution in converting all intra-city mobility in India to Lithium based electric from fossil fuels, while fulfilling our PM's vision of being Atmanirbhar," Iyer added.

It also offers a 'Battery Swapping' technology, through which a drained battery can be exchanged for a fully charged battery at designated locations.

Pi Beam aims to sell 10,000 vehicles by the end of the next financial year (2021-22).

Founded by an IIT Madras alumnus, Visakh Sasikumar, Pi-Beam has already gained over 100 initial customers within weeks of opening pre-orders from customers across age groups, from both rural and urban geographies.