Hero Electric To Expand Production Capacity at Ludhiana Plant to Over Five Lakh Units by March 2022: Reports

0
133
  • Hero Electric said it has around 4 lakh EVs on road and seen a tremendous growth in demand and overall sales of its most popular scooters in the ‘City Speed’ segment post unlock in June, 2021
  • It added that the company will also in the next few months launch exclusive experience showrooms in major centres to educate and create awareness for EVs in India

EV maker Hero Electric has announced plans to expand the production capacity at its facility in Ludhiana to over 5 lakh units by March next year, up from the existing capacity of 1 lakh units per year. It aims to drive growth in the EV two wheeler sector and plans to subsequently add production capacities of one million every year with a target to manufacture over five million EV 2W per year by 2026. It added that the company will also in the next few months launch exclusive experience showrooms in major centres to educate and create awareness for EVs in India.

Sohinder Gill, CEO, Hero Electric said that at Hero, they always believed that the growth in the industry is going to see a hockey stick curve some day and the numbers from the last few months is an index of what is in store. The company is witnessing huge walkins at our dealerships and are working overtime to avoid stockout situations and long waiting lists.”

Hero Electric said it has around 4 lakh EVs on road and seen a tremendous growth in demand and overall sales of its most popular scooters in the ‘City Speed’ segment post unlock in June, 2021. With the revised amendments to FAME-2 and additional state subsidies, the prices for its EV two wheelers start at Rs 53,600.

LEAVE A REPLY

Please enter your comment!
Please enter your name here