Hero Electric will again become number 1, told how it will sell 5 lakh EVs in 2022!

Electric vehicle manufacturing is no longer the need of the hour but has become a necessity for two-wheeler companies. Every small and big company is competing to introduce new models of electric two-wheelers like E-bike and E-scooter. It also has some well-known companies and some new startups as well.

But, about a decade and a half ago, when electric vehicles were not in the news, companies like Hero Electric entered the EV market. Hero Electric introduced its electric two-wheeler in 2007 itself. Now the industry is full of companies manufacturing electric two-wheelers. Some startups have started recently.

Hero Electric will again become number 1, told how it will sell 5 lakh EVs in 2022!
Photo Credit: hindi.gadgets360

 

Till now, Hero Electric was in the number 1 position in this segment, but last month it was snatched from the company by Ola Electric, which left behind Hero Electric to come to the first position. The reason was that Hero Electric did not even deliver a single unit of the vehicle last month.

Due to the lack of chip supply globally, the company extended the delivery date. Ola benefited from this and she came in the first place. But now the company is again claiming that it will soon be in the number 1 position again.

The Managing Director of Hero Electric has recently said that the company will again be in the top spot. According to a report published in HT Auto, the company’s MD Naveen Munjal says that Hero is on its way to regaining its top position. He said that there is a shortage of semiconductor chips at the global level and it will continue to affect the productivity of the company for the next few months. But, the performance of the company will not be less than this. He said that this shortfall of semiconductors cannot challenge for long, it will end soon.

Munjal said production will stabilize in the next few months and deliveries of electric two-wheelers will start happening evenly. He said that the demand in the market is so high that the company is not able to fulfill it. In the financial year 2022, the company has so far sold around 1 lakh units of electric scooters.

The company aims to sell 2.5 to 3 lakh electric scooters in the remaining this year. The company, which aims to sell 5 lakh units per annum, is also expanding its production facility in Ludhiana, Punjab. Apart from this, the company’s partner Mahindra has additional production capacity at its factory in Madhya Pradesh.

The company says that it will set up multiple manufacturing facilities in the next five years. Hero Electric currently has 14 models of electric two-wheelers, and this year the company is planning to launch a variety of new scooters. These new two-wheelers will be launched in both city speed and high-speed categories.

The company says that it will focus more on city speed models as their demand is very high. In April, the company didn’t even sell a single unit, but it did run a Suraksha Month campaign to educate customers about battery function and maintenance, as there have been a number of electric vehicle fires in the recent past.

Sunil Kumar writes about smartphones and laptops for Gadgets 360 Tech News based out of Mumbai. He is Deputy Editor (Reviews) at Gadgets 360 Tech News. He has written frequently about the smartphone and PC industry and has an interest in photography as well.

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