Pursuing a strong sales target and market share by the end of FY2022, Hero is targeting 1 million customers in the near future
Homegrown electric two-wheeler maker Hero Electric has reported over two-fold jump in festive season retail sales at 24,000 units from October 1 to November 15, 2021. This is more than a 100 per cent increase as compared to the sales that occurred last year during the same period, which stood at 11,339-units.
The recent amendment in FAME II policy (Faster Adoption and manufacturing of electric vehicles in India), which offers increased upfront incentives for electric two-wheelers and rising fuel prices has propelled the demand for electric vehicles resulting in heightened demand, the company said in a statement.
Pursuing a strong sales target and market share by the end of FY2022, Hero is targeting 1 million customers in the near future. As a market leader, Hero continues to further its efforts to develop a robust EV ecosystem by installing charging infrastructure in major cities and training thousands of mechanics across India who are presently servicing petrol bikes, it added.
Commenting on the sales performance, Sohinder Gill, CEO, Hero Electric, said, “We saw two clear indicators in our showrooms this festive season. A significant percentage of customers chose Hero E 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 exponential growth and bring around an EV revolution that will help reduce air pollution and make our cities a better place.
Hero Electric’s ‘30 days, 30 bikes’ festive offer aided the upward sales momentum during this period. Under the offer, every day one lucky customer purchasing a Hero Electric two-wheeler got a chance to ride home their vehicle free, further fostering the spirit of a pollution-free festive season, quoted Hero Electric.
