The surging petrol prices, high carbon emission, and climate change—the biggest of all—have made the requirement for electric vehicles more urgent than ever. EVs consume zero fuel, run on batteries, and do not produce carbon emissions, releasing clean energy into the environment.
To overcome economic and environmental challenges, both governments and other organizations have been working to push the E2W demand in India.
For example, the FAME II scheme by the government, which is now providing better subsidies to buyers, has pushed electric two-wheelers sales in India after its decline in the last few years. A decrease in the battery prices and the quality products from companies like Hero Electric is also pushing India into the electric race.
Hero Electric has been knitting the E2W revolution for over two decades
Today, there are many electric two-wheelers and three-wheelers in India. However, there is one firm that is looking to push the segment further: Hero Electric.
It has been leading the E2W development in India since 1998; however, it was 2007 when Hero Electric launched its first battery-operated e-cycle in India, developed at its manufacturing plant in Ludhiana, Punjab.
From 2007 to 2009, it expanded its EV business by launching a lead Battery E-scooter in India, meanwhile tying up with multiple technology partners. During this period, it also laid the foundation of the SMEV, Society of Manufacturers of Electric Vehicles, the only EV corporation in India. It is also the first company to launch India’s first Li-ion Battery E-bike.
Sales and Achievements
So far, Hero Electric has signed over 100 dealerships across India, introduced a portable battery system, acquired assets of A2B in the UK & Germany, and started the EV policy development in the country.
Also, today Hero Electric covers over 50% of the electric two-wheelers market in India in terms of sales value and volume. According to Statista, Hero Electric sold over 50,000 electric two-wheelers last year, the highest of 2020 despite the restriction imposed because of the ongoing pandemic.
It has become a top brand in the market, serving people with diversified electric vehicles, including e-scooters and e-cycles.
Because of the combined efforts of the government and mobility industry, Hero Electric has become one of the most trustworthy E2W brands in India. However, the firm has been exploring this venture long before and pushing go-electric with its products and efforts.
Products
Hero Electric offers a range of products in the EV segment –
1) B2C vehicles
It covers all the e-scooters and e-cycles.
2) International market
Electric bikes sold under the brand name A2B.
Products designed are three times more cost effective than fuel-consuming vehicles. The products are convenient, integrated with advanced technology, giving users on-time updates about the health and power of products. All Hero Electric products leave zero noise and emission, releasing clean energy into the environment.
Special Initiatives:
- Hero Electric is the first manufacturer in India to launch charging stations called “Anywhere, Everywhere Charging,” where users can get their in-house personal charging station.
- Hero Electric is the first E2W company to open door-to-door electric vehicle solutions.
- Hero Electric has arranged multiple campaigns to bring awareness of going electric. ‘Go Electric’ and “Code Green‘’ campaigns gave a big push to EV sales in India.
- At the beginning of 2021, when the government revised the FAME II scheme, Hero Electric decreased the value of its products by up to 33%, including its best-selling NYX HS500 ER Model.
- Recently, it partnered with Flipkart, assisting them in the deployment of 25,000 electric two-wheelers.
Future Prospects
Currently, the firm produces 250 e-bikes daily. It follows a hybrid sales model—selling products both offline and online. In conversation with Fortune India, Mr. Naveen Munjal, Managing Director, Hero Electric Vehicles Pvt Ltd., said that the company expects to sell 5 lakh-7 lakh EVs by 2025. And they are expecting a growth of 15% in the ongoing year. In the upcoming years, Hero Electric expects to deliver 12-13 million electric vehicles in India by 2030.
