Hero Electric to roll out over 10 lakh vehicles annually in next two-three years

Hero Electric will roll out over 10 lakh vehicles annually in the next two to three years from its manufacturing units in India, the company said on Wednesday.

The company, which launched new versions of its three electric scooter models priced between Rs 85,000 and Rs 1.3 lakh, plans to set up a greenfield plant at Rajasthan with an annual production capacity of 20 lakh units with an investment of around Rs 1,200 crore.

Speaking at the launch of the new models, Hero Electric Managing Director Naveen Munjal said, "We have worked closely with our partners to cater to the surging demand for EVs in the country. As a result, we are proud to announce that we are all set to roll out over 1 million vehicles annually from our manufacturing units."