SAR group is foraying into the fast-growing automobile market with their own range of e-bikes. A new venture has been floated under the name of Lectrix Motors to manufacture and market the bikes, and a Rs 200-crore plant is being set up in Himachal Pradesh. “Initially we would be putting in Rs 30 crore in the plant and the rest of the funding will be done over the next three years,” said Rakesh Malhotra, founder & CEO of the SAR group. The e-bikes, initially being launched in two models (in six variants) and priced between Rs 28,000 and Rs 29,500, will be on display at 2008 Auto Expo.