Two-Wheeler Sales October 2021: Hero Electric Reports Strong Sales Growth

Hero Electric, India's leading electric two-wheeler manufacturer recorded sales of 50,331 units up until October 2021. With operations for over 14 years in India, Hero Electric has announced that the company has seen its best-ever sales since 2007. According to the company, the highlight of the sales milestone is the response to its city speed portfolio, with the Hero Optima and NYX contributing the most to the sales volumes. Hero Electric says the company is on the way to achieving a strong sales target and market share by the end of FY 2022.

Also Read: Hero Electric Announces Production Capacity Expansion By March 2022

Hero Electric currently has over 36 per cent market share.

Hero Electric currently has 36 per cent market share, and has expanded its distribution network to tap newer markets and reach a wider audience. The company has partnered with multiple electric vehicle start-ups to strengthen the last mile delivery market and expand its B2B business. The company says it is also working on building a robust charging infrastructure across the country through multiple collaborations.

Also Read: Hero Electric To Set Up 1,000 Charging Stations In India

Sohinder Gill, CEO - Hero Electric, says that the company is redrawing business plans to retain its leadership position. Capacities are being ramped up to meet the increasing demand.

Sohinder Gill, CEO, Hero Electric, said, "While we are happy celebrating the delivery of 50,000 bikes to the customers, we owe an apology to another 16,500 customers who are on the waitlist for deliveries and may have to wait for a few more weeks. We are ramping up our capacities quickly to offer to customers their Hero choice of bikes as they walk into our showrooms.

"This is the moment to acknowledge the positive steps of the government that catalysed this high growth EV ecosystem, and thank our customers, our business partners and above all our solid Hero team that has worked so hard to reach this milestone. We'll soon have half a million satisfied users, many of them happily enjoying the comfort and convenience of Hero e-bikes for more than 5 years; saving a fortune for themselves while contributing to a carbonless future."

Also Read: Hero Electric Targets 1,000 Sales Touchpoints By 2022

Hero Electric said in the statement that the company is progressing towards its ambition of clocking 1 million (10 lakh) sales in the next five years by expanding its product portfolio and sales touchpoints. Hero Electric currently has over 700 sales and service outlets spread across the country along with a widespread charging network and trained roadside mechanics on EVs. The company has its manufacturing unit in Ludhiana, and it sells a wide range of electric scooters catering to different segment of customers. The company intends to double its current sales and has recently announced a capacity expansion to manufacture 5 lakh electric scooters every year.