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Hero Electric Is The Market Leader For High-Speed Electric Two-Wheelers In First Four Months Of FY'21

Hero Electric had a 36 per cent market share in high-speed electric two-wheeler segment with 1,113 units sold in the first four months of FY2021. The total electric scooter sales in the high-speed segment were 3,088 units.

Hero Electric commands a share of 36 per cent in the high-speed electric scooter segment in India expand View Photos
Hero Electric commands a share of 36 per cent in the high-speed electric scooter segment in India

Highlights

  • Hero Electric despatched a total of 1,113 units in Apr-July 2020
  • Hero Electric commands 36% share in high-speed electric scooter segment
  • Hero Electric recently announced subscription-based plans its EVs

With total sales of 1,113 units and a market share of 36 per cent, Hero Electric is the market leader in the high-speed electric scooter segment in India. The total sales in this segment were of 3,088 units. With sales of 878 and 438 units respectively, Okinawa Auto Tech and Ather Energy make up the list of the three biggest electric two-wheeler manufacturers in India for the time period of April-July 2020, according to VAHAN data. In fact, Hero commands 45 per cent share in the low-speed electric two-wheeler category which means at present it is the overall leader in the total electric two-wheeler space as of now. The company says it engaged over 40,000 customers in the first four months of the new financial year, which resulted in a six-fold increase in the company's online sales over the first four months of the previous financial year. Refer to the table below for unit-wise sales of the top 5 electric two-wheeler manufacturers.

EV Companies April-20 May-20 June-20 July-20 Total
Hero Electric 36 200 480 397 1,113
Okinawa 27 90 356 405 878
Ather 0 143 157 138 438
Ampere 4 44 155 195 398
Revolt 0 0 101 121 222

Also Read: Hero Electric Announces Subscription-Based Financing Plans

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(Hero Electric recently started a subscription-based ownership scheme for its electric two-wheeler range)

Commenting on the feat and impact of the brand's swift actions amidst the lockdown, Sohinder Gill, CEO, Hero Electric said, "Our quick thinking, willingness to take risks, and trying different methods paid-off to not let the lockdown negatively impact our business. This fresh approach also kept our people, driven, and motivated and our stakeholders assured. We are happy to have been able to attract customers, more in fact, during this troubled period of lockdown and pandemic. Coming out on top with the highest number of electric scooters sold, across all categories - between April and July, 2020, is a testament of our unwavering determination to work harder. We have great plans for the second half of 2020, and we are not going to let anything deter us from achieving what we set out to this year. Our no-emission mission continues."

Also Read: Hero Electric Announces One Of A Kind Return Offer On Its Models

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(Hero Electric sold a total of 1,113 units in the first four months of FY'21)

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Hero Electric recently announced its partnership with Autovert Technologies, to offer subscription plans for its electric scooter range. The all-inclusive subscription plans will start for as low as ₹ 2,999 per month, and will allow the company's customers to buy an electric two-wheeler, along with bundled services such as comprehensive insurance, service and maintenance, loyalty bonuses and upgrade options.

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