Hero Electric sales touched the 24k mark in the period from 1st Oct 2021 to 15th Nov 2021
Hero Electric scooter and EV sales numbers foster a spirited outlook this festive season. Through 2021 festive season (October 01 – November 15, 2020), Hero Electric sales stood at 24,000 units. In comparison, for the same period last year, sales were at 11,339 units.
Amended FAME II policy and fuel price fluctuations have helped strengthen focus on electric vehicles, and thereby resulted in increase in demand. Overall focus on EVs sees certain segments spearhead growth. This includes government backed public transport developments, and the focus of electric fleets by delivery businesses.
On the consumer front, electric scooters and motorcycles are being projected as the next big thing. To support this, there’s been more awareness around such development. Updates to FAME II policy mean one can avail of rebates for specified vehicle segments. Over time, investments have been enhanced to strengthen charging infrastructure to help reduce range anxiety.
Hero Electric Retail Sales Double In 2021 Festive Season
Hero Electric’s growing customer base has seen the company report retail sales of 24k units during 2021 festive season. The manufacturer’s ‘30 days, 30 bikes’ festive offer fuelled sales momentum this festive season. And was designed for customers purchasing a Hero Electric two-wheeler with a chance to get their vehicle free.
FY2022 gaols revolved around ‘strong sales target’ and ‘market share’. During the time, sales touchpoints expansion is targeted at a 1,000 units. 300 new sales touchpoints will be made operational, adding to the current network of 700 such units. Expansion targets are in tandem with segment growth projection of 20 percent over the next five years. Production capacity expansion is on the cards.
Electric Two Wheeler segment growth
In the longer run, Hero targets to add 1 million customers annually. A strong EV ecosystem is being developed by installing charging infrastructure in major cities. A partnership with EV charging start-up Charzer targets 10k charging stations to start with.
Through first year ops, chargers will be set up across Hero Electric dealerships. Charzer mobile app and website will aid users find the nearest charging station.The collab targets 1 lakh such stations, and the job is to be completed in 3 years. Simultaneously, the mechanic network is being developed by training those servicing petrol bikes to handle upkeep of electric two-wheelers.
Sohinder Gill, CEO, Hero Electric, said, “We saw two clear indicators in our showrooms this festive season. A significant percentage of customers chose Hero Electric bikes over the Petrol bikes and many factored environment and sustainability as influencing factors in their purchase. This is a good indicator for Hero and the E2W industry to step into an exponential growth and bring around an EV revolution that will help reduce air pollution and make our cities a better place.”
Source: Bike - rushlane.com
