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Hero Electric tops electric two-wheeler segment in FY21

Nizam Shaikh
Written by Nizam Shaikh

Hero Electric already commands a market share of 45% in the balance category of electric two-wheelers giving it the top position in the electric two-wheeler segment. The brand has reported that even during the COVID-19 pandemic, the company has reported that it engaged with over 40,000 customers resulting in a six-fold increase in its online sales over the previous year within in the first four months of 2020-21.

According to the reports released by “JMK Research and Analytics”, a consulting firm for research and advisory services for Indian and International clients focusing on Renewables, Electric mobility, and the Battery storage market, Hero Electric has announced that the electric mobility brand claims to be the top electric vehicles manufacturer in the first four months of the current year with a market share of 36% in the High-Speed Segment. 

During the unprecedented times of the pandemic, the brand launched initiatives such as ‘Be a Bike Buddy’, ‘Be a Green Hero’, ‘Take home a Hero- return if you don’t like it’, which led to a number of enquiries and interests of the prospective customers even during peak lockdown period. The new initiatives and offers have been launched to encourage people into buying affordable, green, eco-friendly and cost-effective means of personal transportation which is also a means of automatic social distancing, when compared to public transport. 

The new unique ‘Be a Bike Buddy’ referral scheme was announced nearly a month ago, for both Hero Electric’s new and existing customers. Under this new scheme, Hero Electric scooters are available at a flat discount sale of INR 2000 and an additional discount of INR 2000 is offered if the customer is referred by an existing Hero eBike user and every 50th customer who books the Hero Electric scooter will also get “Glyde e-scoot” for free.

The Hero Electric product portfolio includes Flash, Nyx, Optima, Photon, Flash, Dash and also the ER (Extended Range) variants which include the Optima ER and Nyx ER along with Glyde and E-Cycle.