Hero Electric Delivers 50,000 Units in 2020, Tops the Segment

A pioneer and market leader in the Indian Electric Two-Wheeler industry, Hero Electric announced that it has sold over 50,000 electric two-wheelers in 2020 consequently retaining the top slot in the segment.

According to PTI, the company also announced that its sales network has crossed the 600 touchpoint mark covering 500 towns and cities across the country, hence offering the widest service network offered by any brand in the segment.

Speaking on their achievements, Hero Electric CEO Sohinder Gill stated, “As we come out of an extremely challenging year, we at Hero Electric are extremely proud of what we have achieved. When we were faced with the situation, we had two options at hand, and I am glad we chose to fight it out with our experience and support from each and everyone connected to us. We are proud to have achieved our goals despite all challenges.”

And now, this year the company is looking forward to presenting an exciting lineup of products, Sohinder added.

Consequently through 2021, Hero Electric is planning to expand its Ludhiana-based manufacturing facility from a current capacity of producing 70,000 units per year to 2.5 lakh per annum. Additionally, the company is endeavoring to close the Fiscal Year 2021 with a growth of 15 percent over the last year, with a combination of online and offline sales.

Furthermore, the company further declared that it has added 1,500 new EV charging points through 2020-21 across various cities.

In order to facilitate its irresistible growth in terms of sale numbers, last year in August 2020, Hero Electric partnered with OTO Capital, India’s first vehicle leasing startup to provide consumers with affordable and flexible financing options to own their electric scooters and bikes.

The partnership allowed consumers to save up to 30 percent on their e-scooter by paying monthly OMIs (OTO Monthly Installments) compared to other financing options in the market. The partnership was meant to be live across 16 Hero Electric dealers in Bangalore and Pune, with a focus to expand across India in a few months.