Hero Electric is currently the leading electric two-wheeler company in the country. Given the recent reduction in the FAME II subsidy, Hero Electric has some good news. The EV maker has announced that it will not hike the prices of its popular e-scooter models. The company mentioned that they remain dedicated to promoting the adoption of E2 Wheelers. At the same time, they are also targeting to dispel misconceptions about the cost of ownership of EVs
The Government of India recently announced the reduction in the subsidy for electric two-wheelers under the FAME II scheme. Thus this is resulting in a significant price hike for electric two-wheelers across all the brands. But, Hero Electric believes that affordability plays a pivotal role in encouraging the widespread adoption of electric vehicles. Thus maintaining price stability is a crucial step toward achieving this goal. By keeping the prices of its e-scooter line-up unchanged, Hero Electric hopes to attract a larger number of consumers.
The company also mentioned that the sudden and sharp tapering of subsidies does not go well with the customer. And thus it may lead to a drop in the E2W adoption. Given the demand, the industry might just clock higher sales than last year. But in the long run, it may not keep the tempo of the exponential growth. Thus it may even fall short of the target of 2.3 million units as projected by Niti Aayog.
Hero Electric currently offers a diverse range of e-scooters. These cater to various segments of customers based on their preferences. The recently launched models include the likes of Optima CX 5.0, Optima CX 2.0, and NYX. With this announcement, Hero Electric aims to keep its position as a market leader. Thus fully committed to providing sustainable and cost-effective mobility solutions to a wide range of customers across the country.
Also Read: Hero Electric launches Optima CX & NYX e-scooters