Hero Electric announces expansion of production capacity to over five lakh by March 2022

Hero Electric, India’s largest EV two wheeler maker today announced its commitment  to further expand capacity of  its all new production facility in Ludhiana owing to growing demand being witnessed by the brand. With this initiative, Hero Electric aims to drive growth in the EV two wheeler sector and plans to subsequently add production capacities of one million every year with a target to manufacture over five million EV 2W per year by 2026.  Being market leaders with around 4 lakh EVs on road the brand has seen a tremendous growth in demand and overall sales of its most popular scooters in the ‘City Speed’ segment post unlock in June, 2021. The company also reported a surge in sales in the months of July & August with a consistent growth in market share. Hero’s scooters with the revised amendments to FAME 2 and additional state subsisdies are the most affordable EV two-wheelers in the country with prices starting at Rs. 53,600 (post subsidy). Over the last few months, Hero has continued its expansion of experience centres and dealerships to reach out to the masses looking for alternative modes of mobility. The company will also in the next few months launch exlcusive experience showrooms