Hero Electric Plans To Manufacture 5 Million E2Ws Every Year

Hero Electric might need an investment of around Rs 1,500-2,000 crore to manufacture 5 million electric two-wheelers every year. This also includes setting up two factories in West and South […] The post Hero Electric Plans To Manufacture 5 Million E2Ws Every Year appeared first on EMobility+.

Hero Electric might need an investment of around Rs 1,500-2,000 crore to manufacture 5 million electric two-wheelers every year. This also includes setting up two factories in West and South India.

Managing Director Naveen Munjal said, “We are losing business – we are not able to supply. We had stopped online ordering and even slowed down dealership expansion to fulfil pending orders. We will double volumes in FY22. We are aiming to triple sales to 300,000 units for next financial year.”

He expects to have 30% electric vehicle users in the country by 2025. The company’s manufacturing capacity of Ludhiana’s factory is 250,000 annually. The company has partnered with Sun Mobility and Mahindra and Mahindra recently.

“We want to retain the leadership; we are confident of holding on to at least one-third of the market in the coming years,” Munjal said. “We have a wide product portfolio, which is getting further enhanced, years of understanding the consumer needs, and supporting the environment today.”

Hero Electric with Sun Mobility will deploy 10,000 electric two-wheelers with swappable battery technology by the end of 2022. The owners of Hero Electric can use this facility.

The post Hero Electric Plans To Manufacture 5 Million E2Ws Every Year appeared first on EMobility+.

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