Hero Electric crosses one-lakh unit sales mark for the second consecutive year.
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Hero Electric crosses one-lakh unit sales mark for the second consecutive year.

Hero Electric witnessed 20% growth in turnover, expanded manufacturing capabilities, and set a target to install 20,000 charging stations.

Hero Electric, one of the leading electric two-wheeler manufacturers in India, has achieved a remarkable feat by crossing the one-lakh unit sales mark for the second consecutive financial year. The company has credited its wide range of revamped products, including Photon, Optima, NYX, Eddy, and Atria, which offer multiple variants to cater to different rider requirements. This has resulted in an increase in demand for Hero Electric bikes, leading to a 20% growth in turnover to Rs. 1,000 crores in FY23.

The company is also expanding its manufacturing capabilities, with an upcoming greenfield plant at Ludhiana and a strategic partnership with the Mahindra group. This has enabled Hero Electric to have a manufacturing capacity of half a million bikes and plans to set up another greenfield plant in Rajasthan with an annual production capacity of 20 lakh units. These developments are a testament to the company’s commitment to promoting sustainable mobility in India.

In addition to manufacturing, the company is also focused on building a holistic EV ecosystem by strengthening financing, charging infrastructure, and service networks. As part of its PGO Initiative, the company aims to train and reskill over 25,000 mechanics, which will contribute to an overall enhanced EV-owning experience. To address the concerns of range anxiety, Hero Electric has set a target of installing up to 20,000 charging stations by the end of this year.

Recently, Hero Electric launched its new range of electric scooters, comprising the Optima CX5.0, Optima CX2.0, and NYX CX5.0. The company claims that the new range is equipped with advanced features, cutting-edge Japanese motor technology, and German ECU technology, making the scooters suitable for the Indian market’s varied weather conditions.

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