Hero Electric has announced that it continues as the best electric vehicle company in India this year. The electric scooter company maintained its leadership in Q1 FY2021 with a considerable margin compared to other EV brands in the country, in sales volume.
Hero Electric edges past Okinawa in the high-speed segment
Hero Electric bases the announcement on a new JMK Research & Analytics report, according to which sales started picking up immediately following the drop in March. In the high-speed segment, April 2020 sales were well below 100 units. Hero Electric’s sales rose to around 200 units in May 2020, and further to just under 600 units in June 2020. During these three months, it ranked no.1 in EV sales. In July 2020 the monthly sales count was around 400 units, and Okinawa managed to climb up to the No.1 position with a slightly higher number. Overall, though, Hero Electric was the best-selling electric vehicle company in India in Q1 FY2021.
Without releasing the exact sales figures for Q1 FY2021, Hero Electric says that it received over 40,000 customer engagements during this period, marking a whopping 600% increase Y-o-Y. 15,782 high-speed electric vehicles (of all categories) were sold in our market in the first quarter of the new financial year.
The COVID-19 outbreak is expected to bring a positive shift in transport mode preference, mainly in metro cities where EVs hold the most potential, of switching from public or shared mobility to personal mobility. A Facebook-Boston Consulting Group report, accessed by The Economic Times, marked a 21% decline in the number of people preferring public or shared transport for commuting to 30% after the pandemic struck our nation.
With Bajaj Auto, Ather Energy, TVS Motor and Hero Motocorp bringing out interesting products in the high-speed electric two-wheeler segment, the EV market in India is likely to see a strong upshift in the coming months as the economy gradually normalises.
There are 11 Hero Electric scooters currently on sale in India: Flash, Flash e2, Optima, Optima e2, Optima e5, Optima ER, Nyx e2, Nyx e5, Nyx ER, Photon Lp and Photon Li. Sometime in 2021, a Hero Electric bike will be launched which was previewed by the Hero AE-47 concept at Auto Expo 2020.