BackHero Electric retail sale registered over 100 per cent growth
Hero Electric attributed rising fuel prices and government backed FAME II policy that subsidise the purchase of electric vehicles
PremiumHero Electric has registered 24,000 retail sales during the 45 days festive period starting from October 1 to November 15 compared to last year sales that stood at 11,339 units. This is more than 100 per cent increase as compared to the sales occurred last year during the same period. The company already has over 4 lakh electric vehicles on the Indian roads. Hero Electric has attributed rising fuel prices and government backed FAME II policy that subsidise the purchase of electric vehicles.
“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," said the electric two wheeler maker.
Pursuing a strong sales target and market share by the end of FY2022, Hero is targeting 1 million customer in the near future. As a market leader, Hero continues to further its efforts to develop a robust EV ecosystem by installing charging infrastructure in major cities and training thousands of mechanics across India who are presently servicing petrol bikes, it added.
Sohinder Gill, 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 an exponential growth and bring around an EV revolution that will help reduce air pollution and make our cities a better place.
Hero Electric’s ‘30 days, 30 bikes’ festive offer aided the upward sales momentum during this period. Under the offer, every day one lucky customers 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, quoted Hero Electric.
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