Hero Electric Reports 100,000 Unit Sales for Second Consecutive Fiscal Year

Electric two-wheeler maker Hero Electric reported on Monday that it has surpassed the 100,000-unit sales mark for the second consecutive fiscal year. The company attributes its sales performance to its wide range of improved products – Photon, Optima, NYX, Eddy and Atria – which come in multiple variants to suit different rider needs.

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Updated on:
April 3, 2023 at 17:06 pm

Hero Electric’s manufacturing plant in Ludhiana has an annual installed capacity of 100,000 units.

OEM over ¥FY23 turnover is 10 billion, an increase of 20% over the previous year. “This achievement is a result of our continuous efforts to provide sustainable and affordable mobility solutions. It further strengthens the trust our customers place in us and our products,” said Sohinder Gill, CEO of Hero Electric.

Also read: Ola Electric sells over 27,000 units in March, expands market share to 30%

The company recently launched three new products focused on connected car technology – Optima CX5.0 with dual batteries, Optima CX2.0 and NYX Dual Battery. The OEM claims its EVs come with optimized powertrains, enhanced safety and smart connected mobility. “We will continue to innovate and bring new products to market to meet the changing needs of our customers and reduce carbon emissions,” Gill added.

Hero Electric is working to expand its manufacturing capabilities and dealer network across the country as the government pushes for the rollout of electric vehicles and the demand for clean and sustainable mobility solutions increases. The company currently has a manufacturing capacity of 500,000 bicycles and plans to build a new factory in Rajasthan with an annual capacity of 2 million.

To build a complete electric vehicle ecosystem, Hero Electric is forming partnerships to strengthen financing, charging infrastructure and service network. The company has set a goal of training/retraining over 25,000 mechanics under its PGO Initiativ to help enhance the overall EV ownership experience. To address range anxiety, it has also set a goal of installing up to 20,000 charging stations by the end of the year.

First published date: April 3, 2023 at 17:02 PM CST


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