With fuel prices maintaining a straight upward trajectory, along with the electric vehicle momentum on the rise, the country’s largest electric two-wheeler has surpassed 50,000-unit sales milestone in the seven months of FY2022.
Owing to a conducive environment for the EV industry, Hero Electric says it 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. The company says it has sold 50,331 units till October, that translates to a market share of 36%. The EV maker says it has partnered with multiple EV startups to strengthen the last-mile delivery market and expand its B2B business.
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 16,500 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 catalysed 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 5 years by expanding its product portfolio and sales touchpoints.