facebook
AD

Hero Electric partners with Punjab Government to develop EV infrastructure

Authors Image

Janak Sorap

11,862 Views
Hero Electric partners with Punjab Government to develop EV infrastructure

-Aims to attract existing and potential players to invest in the state, according to the company statement

- Plans to achieve 1000 touchpoints by 2020 end while increasing production to 5 lakh units annually

- Company plans to invest 700 crores in the next three years

With mainstream companies like Bajaj Auto entering the EV space, it seems to have become all the more evident that this segment could very much be the future of transportation. But, the biggest hurdle that the manufacturers, and the potential buyers face in India is the required infrastructure. Hence, to address the same, Hero Electric has signed a partnership with the Government of Punjab to support and develop the state’s EV infrastructure.

Hero Electric Optima Exterior

Under the new venture, Hero Electric sees the new partnership as an opportunity to strengthen it’s positioning in the market as a leader in the current two-wheeler EV space while developing the state of Punjab to make it a potential EV hub. On the same lines, Hero Electric had also recently announced its plans to invest Rs 700 crores in Research and Development, ramping up the production and expanding the existing product portfolio. The brand plans to set up a new manufacturing facility in Ludhiana which should allow Hero Electric to bump up its production capacity to five lakh units annually over the next three years. The company will mainly focus on low-speed scooters as they are lighter on the pocket and are popularly used for last-mile connectivity.

Contributing from the other end of the partnership, the Government of Punjab will be providing incentives to the investors in the form of net GST reimbursement and employment subsidy of up to Rs 48,000 per year for the next five years. These provisions should draw the attention of new investors wanting to capitalize in the electric vehicle space.

Hero Electric Optima Gallery

  • Hero Electric Optima Front Three-Quarter
  • Hero Electric
  • other brands
Hero Electric Optima CX
Hero Electric Optima CX
₹ 83,315Onwards
Avg. Ex-Showroom price
Show price in my city
Hero Electric Atria
Hero Electric Atria
₹ 77,690Onwards
Avg. Ex-Showroom price
Show price in my city
Hero Electric Photon
Hero Electric Photon
₹ 1,10,839Onwards
Avg. Ex-Showroom price
Show price in my city
AD

Featured Scooters

  • Popular
  • Upcoming
TVS Jupiter
TVS Jupiter
₹ 78,030Onwards
Avg. Ex-Showroom price
Show price in my city
TVS Ntorq 125
TVS Ntorq 125
₹ 94,187Onwards
Avg. Ex-Showroom price
Show price in my city
Honda Activa 6G
Honda Activa 6G
₹ 79,329Onwards
Avg. Ex-Showroom price
Show price in my city
Honda Activa Electric
LAUNCHING SOON
Nov 2024
Honda Activa Electric

₹ 1,00,000

Onwards
27th Nov 2024Expected Launch
Hero Destini 125
Hero Destini 125

₹ 83,000

Onwards
Nov 2024 (Tentative)Expected Launch
Lambretta V125
Lambretta V125

₹ 80,000

Onwards
Jul 2025 (Tentative)Expected Launch

Hero Electric Optima Price in India

CityOn-road Price
Mumbai₹ 55,615
Bangalore₹ 56,173
Delhi₹ 55,615
Pune₹ 55,615
Hyderabad₹ 55,658
Ahmedabad₹ 55,615
Chennai₹ 55,615
Kolkata₹ 55,615
Chandigarh₹ 55,595
AD
  • Home
  • News
  • Hero Electric partners with Punjab Government to develop EV infrastructure