Hero Electric is confident about increasing its sales number 10-fold in the next five years. While the current year's number is expected to be around 25,000, the company is projecting sales to touch 2.5 lakh units by 2022.
Last year, the company sold under 15,000 scooters, although this year's number is expected to jump by over 67 per cent. Hero Electric is projecting next year's sales numbers to touch 75,000 units. To help it meet the demand, the company is planning to set up a new bigger manufacturing facility in South or West India. The current facility in Ludhiana has a capacity of 50,000 units. Hero Electric has a wide range of electric scooters in its portfolio. Prices range from Rs 24,290 for the basic model going all the way upto Rs 86,850 for the top-of-the-line lithium-ion battery powered Photon.
Speaking to PTI, Naveen Munjal, MD, Hero Electric said, "Our very conservative target is that we will be selling more than ten times of what we will be doing this year in the next five years. We will have multiple plants by that time." The Indian audience may have been slow in embracing electric vehicles so far, but the government is serious about changing this. The government is currently in process of preparing policies, which should give incentives for manufacturers and buyers of electric vehicles.
Source: ETAuto
