Eye on Ola Electric challenge? Hero Electric to ramp up production big time

Hero Electric's Ludhiana plant currently has an installed production capacity of one lakh units per year.After the current expansion plan to a capacity of over five lakh units a year, Hero Electric will further expand its capacity to build over one million vehicles every year.
By : HT Auto Desk
| Updated on: 23 Sep 2021, 11:52 AM
Hero Electric has launched over 15 electric two-wheelers in the country over the past decade.
Hero Electric has launched over 15 electric two-wheelers in the country over the past decade.
Hero Electric has launched over 15 electric two-wheelers in the country over the past decade.
Hero Electric has launched over 15 electric two-wheelers in the country over the past decade.

As the competition with cab-aggregator tuned EV maker - Ola Electric - is getting fierce, e-scooter maker Hero Electric has planned to increase the manufacturing capacity at its plant in Ludhiana, Punjab. The company will ramp up the capacity to over five lakh units a year, by March next year, so as to cater to increased e-two-wheeler demand.

The company will further expand its production capacity to build over one million vehicles every year, by ramping up the capacity year-on-year to meet the growing demand. Its Ludhiana plant currently has an installed production capacity of one lakh units per year.

Similar Cars

Find More Cars
Tata Tigor Ev (HT Auto photo)
Tata Tigor Ev
Electric | Automatic
₹11.99 - 13.14 Lakhs**Ex-showroom price
Tata Altroz Ev (HT Auto photo)
UPCOMING
Tata Altroz Ev
 
₹12 - 15 Lakhs* *Expected Price
Tata Nexon Ev (HT Auto photo)
Tata Nexon Ev
Electric | Automatic
₹13.99 - 16.85 Lakhs**Ex-showroom price
Mahindra Xuv400 Ev (HT Auto photo)
UPCOMING
Mahindra Xuv400 Ev
 
₹14 - 16 Lakhs* *Expected Price
Tata Nexon Ev Prime (HT Auto photo)
Tata  Nexon Ev Prime
30.2 kWh | Electric | Automatic | 312 Km
₹14.99 - 17.5 Lakhs**Ex-showroom price
Tata Nexon Ev Max (HT Auto photo)
Tata Nexon Ev Max
Electric | Automatic
₹17.74 - 19.24 Lakhs**Ex-showroom price

Hero Electric noted that after the revised amendments to FAME II scheme and additional state subsidies, its electric scooters became the most affordable in the country with post-subsidy prices starting at 53,600. "This has also led to a tremendous shift in the industry that has directly led to a growth in demand for EV two wheelers," the company's MD Naveen Munjal said in a statement.

FOLLOW US:Stay Updated with latest content - Subscribe us on
FOLLOW US:Stay Updated with latest content - Subscribe us on

(Also read | Hero Electric partners with Wheels EMI for financing options to consumers)

He added that the last few months in the electric two-wheeler space have set the tone for the next few years to come. “An extremely conducive environment given the new policies and subsidies which is supporting in growing awareness among consumers," Munjal said. 

Hero Electric, in June this year, had announced a Series B round of funding, driving the expansion of its facilities. The company has launched over 15 electric two-wheelers in the country over the past decade and is bullish about the further growth of the market.

Recently, the company called for the country to put a full stop on the sales of fossil fuel-powered two-wheelers by 2027 in order to accelerate the transition towards electric vehicles. Munjal also pointed out that India's shift towards electric vehicles has been hampered by high prices and inadequate charging infrastructure. He demanded for a stricter mandate for electrification of transportation in the the country.

(with inputs from PTI)

 

First Published Date: 23 Sep 2021, 11:52 AM IST
Recommended For You
View All
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking VIEW OFFERS you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city