Post COVID-19, Hero Electric believes that India will be a significant contributor to the growth of global electric vehicle sales in 2021. Hero Electric is the market leader in electric vehicles and is hopeful that commuters would be persuaded by the clean air during the lockdown to switch to electric.
The global EV market, which would have an estimated 3.42 million units in 2020, is expected to grow at a CAGR of 22.1 per cent in 2021 to 4.18 million units, along with the EV infrastructure market. And India will play a big part in this expansion.
In a statement, Hero Electric has said that with the impact of COVID-19, people have seen air pollution plummeting to unforeseen levels in New Delhi, at 60 per cent. The drastic improvement in air quality has led to an opportunity for customers to adopt smarter and sustainable mobility solutions and the ongoing pandemic will change the way Indians commute. Majority of the public will now opt for private transport to reduce the odds of exposure to the virus, and their search for safer, economical commuting will lead to increased adoption of low and city speed electric scooters. These electric scooters have a lower purchase price, low maintenance and very low running cost. In fact most of the electric scooters sold in India last year were low-speed models.
Mr Sohinder Gill, CEO of Hero Electric has said that with consumers’ focus on sustainable mobility solutions and their preference to the sensibly priced electric two-wheelers, Hero Electric is expecting to see a significant increase in the number of EVs on roads after lockdown. The company has a wide range of electric scooters, priced between Rs 40,000 and Rs 70,000. Hero Electric believes that with the current scenario, the Indian automotive sector will not be returning to the old trend anytime soon and new mobility solutions will have better opportunities and many challenges, which the company is prepared for.
Last month, Hero Electric announced an online sales scheme for the company’s complete range. Customers will get a discount of Rs 5,000 on all models and the existing customers will get an additional Rs 1,000 referral discount. The brand is also selling its e-cycle models, Glyde and e-Velocity, with a cash discount of Rs 3,000.