Hero Electric on Wednesday reported over two-fold jump in festive season retail sales at 24,000 units from October 1 to November 15, 2021. The company had clocked 11,339-units in the same period a year ago, the company said in a statement.
The recent amendment in
FAME II policy (Faster Adoption and manufacturing of electric vehicles in India), which offers increased upfront incentives for electric two-wheelers and rising
fuel prices has propelled the demand for
electric vehicles resulting in heightened demand, the company said in a statement.
Commenting on the sales performance,
Hero Electric CEO Sohinder Gill said, "We saw two clear indicators in our showrooms this festive season. A significant percentage of customers chose Hero E bikes over the
petrol bikes and many factored environment and sustainability as influencing factors in their purchase." This is a good indicator for Hero and the E2W industry to step into exponential growth and bring around an EV revolution that will help reduce
air pollution, he added.
(Edited by : Priyanka Deshpande)
First Published: Nov 24, 2021 2:35 PM IST
