Reigning over Indian roads for 14 years, Hero Electric‘s success has been nothing short of phenomenal. India’s largest electric two-wheeler manufacturer closed the month on a high note by scaling to the height of last fiscal year’s sales performance. The milestone paves the way for achieving a strong sales target and market share by the end of FY2022.
Owing to a conducive environment for the EV industry, Hero Electric has seen its best-ever sales since 2007. The highlight of the milestone is the city speed portfolio with, Optima and NYX leading the sales graph. Riding the EV revolution with a 36% market share, Hero Electric expanded its distribution network to tap newer markets and reach a wider audience. It has partnered with multiple EV startups to strengthen the last mile delivery market and expand its B2B business. It has also pioneered efforts to build a robust charging infrastructure across the country through multiple collaborations.
Mr. Sohinder Gill, CEO, Hero Electric, said,
“While we are happy celebrating the delivery of 50,000 bikes to the customers, we owe an apology to another 16500 customers who are on the waitlist for deliveries and may have to wait for a few more weeks. We are ramping up our capacities quickly to offer to customers their Hero choice of bikes as they walk into our showrooms. This is the moment to acknowledge the positive steps of the government that catalyzed this high growth EV ecosystem, and thank our customers, our business partners and above all our solid Hero team that has worked so hard to reach this milestone. We’ll soon have half a million satisfied users, many of them happily enjoying the comfort and convenience of Hero E bikes for more than 5 years; saving a fortune for themselves while contributing to a carbonless future.”
Furthermore, Hero Electric is progressing towards its stated ambition of clocking 1 million sales in the next five years by expanding its product portfolio and sales touchpoints. The electric two-wheeler manufacturer has a varied product portfolio at affordable prices. Hero Electric will continued to be known for offering value, comfort, and trust packed with performance and durability.
Highlights
- Hero Electric crosses 50,000 unit sales mark due to increased demand for the current fiscal year
- On track to achieve 2X sales, the company had recently announced its capacity expansion to manufacture 5 lakh scooters every year
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