Hero Electric ended the 2022 calendar year on a high with sales exceeding the 100,000 mark. As one of the longest-established players in the electric scooter field, the company has sold more than 600,000 vehicles since its inception.
However, in the previous year, Hero Electric and other electric two-wheeler players were also scanned for misappropriating FAME subsidies. The company said this did affect its sales volume, which was almost halved from the original plan.
Nonetheless, Hero Electric says it is focused on building an overall EV ecosystem to support the development of electric two-wheelers, and has brokered several partnerships in charging, service and financing over the last year. The maker also revealed that rampant electrification in the urban speed category and the last-mile delivery segment drove its upward sales trajectory last year. Improved infrastructure and customer awareness further boosted the company’s sales.
Also read: Okinawa Hero Electric under scan for misappropriating FAME subsidies
Commenting on the sales report, Sohinder Gill, CEO of Hero Electric, said: “The electric vehicle business is very different from the internal combustion engine vehicle business. We started 15 years ago in a ‘so-called green field’ where there was not a single tree! We The EV category must be nurtured like a tender sapling while protecting it from unexpected headwinds from businesses that are feeling the heat of exponential EV growth. In 2022, one such hurdle we encounter is carpet bombing A series of maliciously orchestrated ongoing campaigns to topple the top electric two-wheeler players, including us, carpet bombing all sectors and the media. These faceless Swiss mailers slowly spread the net to 12 EV players, leaving only the traditional players unaffected. These mischievous factors can reduce our sales to half of the plan, but they cannot deprive us of our market leadership. Achieving historically high sales under such external factors is by no means Easy, it’s a great example of the grit and determination of the Hero team to keep true heroes no matter what. We are especially grateful to our network, suppliers and partners for making this a reality.”
Hero Electric aims to sell more than 5 million electric vehicles within the next three years. The company is rapidly expanding its production facilities, dealer network and training employees to create the ecosystem necessary to make electric vehicles mainstream. The manufacturer said it aims to retrain more than 25,000 mechanics to work on electric vehicles, while it aims to install as many as 20,000 charging stations through partnerships. The company’s second manufacturing plant is currently under development in Ludhiana.
First published date: Jan 3, 2023 at 11:18 AM CST