tech2 News StaffAugust 9, 2021 19:09:17 IST
With government support, wavy Hero Electric has announced a sharp rise in sales in the first half of this year. Hero Electric announced that it will sell more than 15,000 electric scooters in the first half of 2021, which is about five times more than the 3,270 e-scooters it sold in the same period last year. In particular, Hero Electric sold more than 4,500 e-scooters in July alone, ten times the number of 399 units it sold in the same month in 2020.
This amazing growth in demand has undoubtedly triggered numerous government-led initiatives to promote e-mobility. In June, FAME-II support for electric two-wheel motorcycles was increased from 10,000 rubles to 15,000 rubles per kWh of battery, and the total amount of support doubled to 40% of the price of a two-wheeler.
In addition, Gujarat and Maharashtra announced generous incentives for electric bike buyers as part of the state’s electrical policy. The impact of these subsidies is so significant that Hero Electric’s mid-speed scooter range now starts at less than 40,000 rubles in these states.
Speaking about sales growth, Hero Electric CEO Sohinder Gill said: “As we continue to fight the pandemic, we at Hero are very on the rise, seeing the market see its biggest growth thanks to very favorable markets and disclosure policies.” the green shoots for this are reflected in the figures achieved in July and overall in the first half of the year. Our production facilities work overtime to meet demand. “
Hero Electric is already working to expand its existing facilities and streamline production, and plans to manufacture more than three million units a year to meet demand.