India’s leading electric two-wheeler manufacturer, Hero Electric clocked 24,000 units in retail sales in the festive period this year, compared to the 11,339 units it sold last year in the same period of October 1, 2020 to November 15, 2020.
According to the company, the recent amendment in FAME II policy and rising fuel prices has propelled the demand for electric vehicles resulting in heightened demand.
With strong government support to the sector, EVs are redefining the mobility space in India and are now receiving preference for commuting with better infrastructure and awareness, it said in a press release. Sohinder Gill, Global CEO, Hero Electric said, “We saw two clear indicators in our showrooms this festive season. A significant percentage of customers chose Hero e-bikes over the petrol bikes and many factored environment and sustainability as influencing factors in their purchase.”
This is a good indicator for Hero and the e2W industry to step into exponential growth and bring around an EV revolution that will help reduce air pollution and make our cities a better place, Gill further said.
The company also said that it’s ‘30 days, 30 bikes’ festive offer aided the upward sales momentum during this period. Under the offer, every day one lucky customer purchasing a Hero Electric two-wheeler got a chance to ride home their vehicle free, further fostering the spirit of a pollution-free festive season.
Pursuing a strong sales target and market share by the end of FY22, Hero Electric is targeting one million customers in the near future.