TI Cycles has launched the first Indian bicycle which has been made from carbon. The carbon bike is called Montra and is available at a price of Rs. 21,000/- for the basic variant, going upto Rs. 1.5 lakh for the top of the line variant. The bicycle is being manufactured at the company’s Ambattur facility and is targetted at urban individuals who take cycling as an adventure sport. TI Cycles aims to sell 12,000 units of the Montra in 2011 and has also introduced the Montra range of cycles which are made of alloys to reduce weight. TI Cycles is a Chennai based company and is part of the Murugappa Group.