Ever since the government revised the FAME II policy, the electric vehicle sector has been growing substantially. With the subsidies offered and the addition of charging stations, people are getting more comfortable buying an EV. Similarly, Hero Electric, India’s largest electric two-wheeler company has announced sales of over 15,000 High-speed electric two-wheelers in the first half of the year, the highest for any electric two-wheeler company in India.
Post-Covid Sales
The company also announced record post-COVID second wave recovery with sales of over 4500 High-speed electric two-wheelers for the month of July, retaining the top position according to JMK research. Hero had earlier in the month also announced its plans to expand its existing facility to manufacture over 3 lakh EVs per year to meet demand and grow 100% over last year.
Offering the widest service network offered by any brand in the segment, dealerships of the company across the country have also reported a rise in demand owing to various policy implementations by the central and state governments making Hero’s electric scooters the most affordable in the country. With prices of its most popular City Speed scooters Optima & Nyx , starting at ₹53,600, the company expects demand to further increase. The company had seen a tremendous number of bookings in the previous months and are elated to be honoured with such astounding responses from its customers and hope to receive the same in the coming times.
Hero Electric’s Planning for the EVs
The market leader has been a force to reckon with since its inception in 2009 with over 3.5 lakh happy customers across the country. The company has reshaped the industry with its affordable pricing, best in category scooters, charging infrastructure to help address major pain points of consumers. To further support growth, Hero has committed to creating an ecosystem by reskilling and training mechanics and garage owners knows as Preferred Garage owners (PGOs) to service all kinds of electric bikes in the near future. To date, the company has trained over 6000 such PGOs and is committed to train over 20,000 such PGOs over the next two years.
Official statements
Commenting on the high demand, Mr. Rajesh Jadam, a dealer for Hero Electric in Ajmer said, “Post June 11th, the demand for electric vehicles has grown by over 10X. We have been dealers of Hero Electric for close to 8 years and July has been the busiest month for us. We have been getting numerous enquiries to test ride the bikes, not just at our stores, but also online. With Hero’s bikes now under ₹60,000 the most affordable in the market, consumers continue to book them immediately after test riding. We are also happy to see that approximately 90% of our stocks are booked and July has been extremely promising. We are all set to go all out to transform the country”
Mr. Sohinder Gill, CEO Hero Electric said, “As we continue to fight the pandemic, we at Hero are extremely bullish about the market seeing its biggest growth thanks to the extremely conducive market and policies since they were announced. The green shoots for this are visible in the numbers we have achieved in the month of July and overall, in the first half of the year. Our manufacturing facilities are working overtime to cater to the demand. Hero Electric is proud to have achieved our goals despite all challenges. What the country today needs to realise is that the only way we will be able to make it a better place to live is by making the shift and that will happen with one bike at a time. This is a great opportunity for us as a company to share our success and talk about bigger milestones we aim to achieve.”