Hero Electric announced its intention to expand into the premium electric vehicle segment under the A2B brand. This strategic move is aimed at catering to various segments within the electric mobility market. The company plans to introduce a range of premium products, including electric bikes and scooters, under the A2B brand.
According to Naveen Munjal, Managing Director of Hero Electric, this approach allows the company to maintain its focus on traditional markets while entering new segments as competition grows.
Sohinder Gill, CEO of Hero Electric, emphasized the significance of differentiation for market dominance and revealed the company’s plan to establish specialist brand entities for various categories.
Despite short-term challenges, the electric two-wheeler market is poised for growth due to increasing sustainability focus and cleaner transportation trends.
Gill expressed confidence in Hero Electric’s readiness to meet emerging demands, particularly in the premium segment.
The company already offers a wide range of electric scooters and operates manufacturing facilities in Ludhiana and Pithampur through a partnership with the Mahindra Group.