India’s largest electric two-wheeler company achieved this growth thanks to record sales of over 6500 units in September 2021. The JMK Research and VAHAN dashboard report see the company secure its top spot in the segment. The rise in demand for high-speed EVs has been a factor for the company achieving this milestone.
September 2021 saw the company outperform through the first half of the year with positive growth momentum. Hero Electric’s high-speed category electric scooters like the Optima and the NYX have continued to drive the sales figures. To satisfy the demand for electric two-wheelers, Hero Electric announced a production capacity increase to 5 lakh units by March 2022. The company’s vision includes installing 10,000 charging stations pan-India by partnering with the Massive Mobility company. With this move, the company aims to encourage the adoption of EVs in India.
The brand currently has over 700 sales and service points with plans to add exclusive showrooms in major centres. The expansion across regions allows for increased awareness of EVs among the masses in India. The Series B funding plan announced earlier by Hero Electric will aid in forwarding the expansion of its facilities. The company has launched over 15 electric two-wheelers, and its ‘City Speed’ model has been at the top in terms of sales figures. The popularity of the scooter is present in the retail market and B2B segment as well.
Despite the pandemic, the brand has sold 15,000 units with an increased demand post the unlock phase. The first half of 2021 saw Hero Electric maintain the top spot as an EV two-wheeler manufacturer. The brand has introduced several digital services like booking test rides and other financial schemes to aid transparency towards its customer base. Hero Electric has assured the service time for a customer to be less than 2 hours.
Hero Electric’s recent survey measured the consumer’s behaviour during the utilization of EV charging stations. The survey results proved that customers are looking for smart chargers which they can find using smartphones. The survey results also include the demand for 16 AMP charging stations and lengthy charging cords by customers.
Users can set up their profile via Wi-Fi in the Massive Charging app to enable a seamless payment process courtesy of the UPI framework. Hero Electric currently has a total of 1,650 charging stations, with the aim to achieve the 20k figure by 2022. Partnering with Massive Mobility grants Hero Electric the opportunity to accomplish and fulfil its objectives and targets.
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