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Hero Electric AE-47 electric bike
Hero Electric AE-47 electric bike

Hero Electric emerges as market leader in EV two-wheeler segment in FY21

  • Hero Electric claims that it has an overall market share of 45% in the balance category of electric two-wheelers.

As per the latest EV monthly updates announced by 'JMK Research and Analytics' Hero Electric has emerged out as a winner in the 1st four months of current fiscal commanding a market share of 36% in the 'High-Speed Segment'.

As per Hero Electric, the initiatives undertaken by the company within the last 4 months have received a positive response from the industry as well as customers. The company has a market share of 45% in the balance category of electric two-wheelers.

(Also Read: Hero Electric partners with Autovert Tech for subscription-based financing plans)

The company announced on Friday that it has witnessed over 40,000 customer engagements in the 1st four months of fiscal year 2020-21. This is a direct six-fold increment as against the corresponding period a year ago. During the same period, Hero MotoCorp has also come up with a number of new schemes - Be a Bike Buddy, Be a Green Hero, and Take home a Hero- return if you don't like it. Hero Electric says that the launch of the new schemes have led to the peak in customer interest and new inquiries during the lockdown.

(Also Read: Honda drags Hero Electric to court for 'copying' scooter design)

Commenting on the feat Mr. Sohinder Gill, CEO, Hero Electric said, “We are happy to have been able to attract customers, more in fact, during this troubled period of lockdown and pandemic. Coming out on top with the highest number of electric scooters sold – across all categories – between April and July, is a testament of our unwavering determination to work harder. We have great plans for the second half of 2020, and we are not going to let anything deter us from achieving what we set out to this year. Our no-emission mission continues."

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