What strategies led to Hero Electric’s success as the market leader in India?
Our very genesis was based on providing mobility to the masses while working on the idea of no emission. We aimed to create an accessible, clean energy mobility solution for the common man.
As we progressed in our mission, success came through our serious focus on awareness creation and then our customer-centric proposition. We kept the customer at the center of it all and worked towards making ownership a matter of utility and pride for the owners.
We actively engaged in campaigns and initiatives to educate people about the benefits of electric vehicles, such as reduced emissions, cost savings, and environmental sustainability. By focusing on creating affordable EV options, we aimed to cater to various segments of society, making the shift to electric transportation a viable and attractive choice for a much larger audience.
How does Hero Electric prioritize customer satisfaction in its electric vehicle offerings?
Customer satisfaction is at the core of Hero Electric’s approach to electric mobility. The customer is at the center of our product development strategy. Our diverse portfolio is designed to offer a powerful value proposition, addressing the varied mobility requirements of the discerning Indian consumer.
Safety and efficiency have been the pillars of our product design. Drawing from the extensive feedback after putting over 6 Lac vehicles on the road, over 15 years, we have mastered the design and utility mechanism. Our latest powertrain offerings convert nearly every watt of battery power into useful kilometers through a super-intelligent close-loop sync system. This system senses real-time variations in load and road conditions, optimizing energy usage without any wastage thereby providing the most efficient vehicle.
Furthermore, our product evolution has retained popular exterior designs while enhancing the core technology to present new avatars of our platforms. These offerings comprehensively cater to a broad spectrum of customers seeking ‘real value for money’.
How does Hero Electric contribute to reducing emissions and promoting a cleaner environment?
Hero Electric is deeply committed to promoting a cleaner environment right from the day we were founded over 15 years back – our entire company ethos is based on reducing emissions and making the air cleaner through zero emissions.
Through our awareness initiatives and campaigns, we aim to raise awareness about the benefits of going electric, emphasizing the positive impact it has on the environment.
Our campaigns, such as “Go Electric”, “Code Green” and “Breathe India,” have played a crucial role in driving awareness and increasing EV adoption in India. By actively promoting the advantages of electric mobility and creating a platform for dialogue, we encourage individuals and communities to make the switch to electric vehicles, thus contributing to a cleaner and greener environment. These efforts align with our vision to transform the transportation landscape and create a sustainable future by reducing harmful emissions and promoting eco-friendly modes of transportation for India.
What, in your opinion, are the primary growth catalysts for the Indian electric two-wheeler sector?
Awareness leading to adoption, policy support and infrastructure are possibly the three growth catalysts for the Indian E2W sector.
Consumer awareness about the benefits like reduced emissions, cost-efficiency, and sustainability are helping drive interest and demand for these vehicles. As more individuals understand the positive impact of electric mobility, they are increasingly inclined to switch to electric two-wheelers.
Policy support in the form of incentives or subsidies favoring electric vehicles is a crucial growth driver. Subsidies and incentives make electric two-wheelers more affordable and attractive to consumers to start with. Consumer subsidies, while they are important to initially seed the market and create enough momentum can be tapered down over a period of time on a milestone basis.
We note a growing adoption of electric two-wheelers, especially in urban areas with increasing concerns about pollution and environmental sustainability. One of the most important ways to strengthen this increasing adoption is address the concerns of infrastructure – more charging stations and easy-to-use chargers are the need of the hour. We have begun on this journey and it is a matter of time now that electric vehicles will be embraced as viable alternatives to traditional petrol-powered vehicles.
What are the primary challenges Hero Electric encounters in the Indian market?
At Hero Electric, we deeply understand the challenges we face in the Indian electric two-wheeler market, particularly the need for heightened awareness and substantial policy support. Personally, I have been actively involved in our initiatives to tackle awareness barriers. We believe it’s not just about selling a product, but about educating the public on the multitude of benefits electric two-wheelers offer in terms of reduced emissions, cost-efficiency, and environmental sustainability.
Moreover, emphasizing the dire need for policy support from the government is a key part of our strategy. We firmly believe that strong policy backing is vital to foster a conducive environment for electric vehicle adoption at a larger scale in India, enhance affordability, tackle range anxiety through improved battery technology and charging infrastructure, and encourage the growth of the electric two-wheeler sector.
What is Hero Electric’s long-term vision for the electric two-wheeler market in India?
Hero Electric’s long-term vision for the electric two-wheeler market in India is deeply rooted in our passion for innovation. Being pioneers in this industry, we are driven to constantly push the boundaries and embrace cutting-edge technologies. We believe that innovation is the key to not only meeting but exceeding the evolving expectations of our consumers, ensuring that our electric two-wheelers remain at the forefront of the market.
Moreover, we are excited about our future strategic diversification into the premium segment. It’s a step towards providing a personalized and differentiated experience, aligning with our belief that each segment of the market deserves a unique and tailored approach to electric mobility. We’re dedicated to making a lasting impact in the industry and shaping the future of electric transportation in India.
What key advice would you offer to entrepreneurs aspiring to enter the electric two-wheeler industry?
My personal advice to them would be to build a long-term model. There are way too many people jumping into this space without a long-term commitment or an idea of how capital and focus incentive this sector is. Being at the right time and at the right place does not necessarily guarantee success!
In order to succeed, they have to understand and focus on what the customer wants and is asking for and then exceed those customer expectations.
Then one has to focus on themselves. The entrepreneur has to be completely convinced of his or her model before trying to convince others be it employees, customers, suppliers or other stakeholders.
Another critical factor is the focus. I believe they have to live, eat, and breathe electric as we have for over 15 years now!