Hero Electric Sells Over 15,000 High Speed Electric Vehicles in First Half of 2021
Electric two-wheeler maker Hero Electric on Monday reported sales of over 15,000 high-speed two-wheelers in the first half of the year. The company had sold 3,270 units in the first half of last year amid disruptions due to the outbreak of coronavirus pandemic.
Hero Electric also said after the second wave of COVID-19, it witnessed recovery with sales of over 4,500 high-speed electric two-wheelers in July this year as compared to 399 units in the same month last year.
Commenting on the sales performance, Hero Electric Chief Executive Officer Sohinder Gill said,”As we continue to fight the pandemic, we at Hero are extremely bullish about the market seeing its biggest growth thanks to the extremely conducive market and policies since they were announced.”
He further said,”The green shoots for this are visible in the numbers we have achieved in the month of July and overall, in the first half of the year…Our manufacturing facilities are working overtime to cater to the demand.”
The company has already announced plans to expand its existing facility to manufacture over 3 lakh EVs per year to meet demand and grow 100 per cent over last year.
With the increase in incentives for electric two-wheelers to INR 15,000 per kWh, against INR 10,000 per kWh uniform subsidy available earlier along with EV policies by various state governments, the company said it is witnessing a rise in demand.
Source: PTI
