Hero Electric closed the 2022 calendar year with an impressive 1 lakh electric scooters sale. The company is one of the most established players in electric scooter sales. It has sold over 6 lakh units in total since its inception.
Hero Electric claims that it is focused on creating an integrated EV ecosystem to help electric two-wheelers grow. This has resulted in multiple partnerships over the past year for charging, servicing, and financing. According to the manufacturer, the company’s sales growth was largely due to its city-speed category as well as the rapid electrification of last-mile delivery segments. Volumes were further improved by improvements in infrastructure and customer awareness.
Sohinder Gill (CEO, of Hero Electric) spoke on the sales report and said that EVs are so much different than ICE vehicles. Although we started with a “so-called greenfield”, 15 years ago, there was not one blade of grass. The EV category had to be nurtured like a delicate sapling and protected from the headwinds that came unexpectedly from businesses that were experiencing rapid EV growth. In 2022, we faced a major hurdle: the carpet bombing campaign by a series of maliciously planned incessant campaigns to bring down top electric two-wheeler drivers. This included carpet bombing ministries and media. These anonymous Swiss-based emails gradually spread their net to 12 electric vehicle players, leaving the legacy players unaffected. Although they were able to reduce our volume to half of what was planned, these mischievous elements could not take us out of market leadership. It was not an easy task to achieve a historically high sales volume under these extraneous elements. This is a strong example of team Hero’s determination to be the true hero despite all odds. We are grateful to our suppliers and partners for making this possible.
Hero Electric plans to sell more than 5 million EVs in the next 3 years. To make EVs more mainstream, the company is expanding rapidly its manufacturing facilities, dealer network, and training staff. According to the manufacturer, it plans to re-skill more than 25,000 mechanics in order to work with EVs. It also has a goal to build up to 20,000 EV charging stations through partnerships. Ludhiana is the location of the company’s second manufacturing facility.