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Hero Electric India – EV Strategy | Hero Electric’s Plans for E-Mobility – EV Next


by Narasimhan Santhanam

Hero Electric’s Plans for E-Mobility – EV Next

Hero electric



This posevnext-logo-v-smallt is a part of EV Next’s EV Perspectives.

EV Nexta division of EAI, is a leading market intelligence & strategic consulting firm for the Indian e-mobility sector.


 

Introduction

Hero Electric is a market leader in the Indian electric two-wheeler industry with its state-of-art-manufacturing facility at Ludhiana and corporate office at Delhi. Hero Electric entered the electric two-wheeler segment after 12 years of extensive research in the EV segment with its wide range of electric two-wheelers. Hero Electric has a strong network of more than 300 exclusive sales and service outlets across the country and has more than 1 Lac customers.

Company Profile

Hero Electric has a number of first only initiatives to its credit like:

  • The electric vehicles manufacturer in India to launch the unique concept of “Charging Stations” for “Anywhere, Everywhere Charging” with in-house design and development.
  • With an in-house research and design center for development and invention of New Greener & Innovative Technologies, Hero Electric has introduced the first of its kind innovative technologies like the Range Extender, Personal Charger, Charging Stations, Easy Wheels etc.
  • Founded and constituted the Society of Manufacturers of Electric Vehicles (SMEV), the global representative body of Indian EV Industry consisting of members from the Electric Four/ Three/ Two-Wheeler and Auto Components Industry.

Product Profile

The company has so far launched eleven e-bike models and three electric rickshaw models.

  • Electric Scooters: Photon(VRLA,  Li variants), HE (17, 18, 19 variants), Nyx & Nyx Li, Optima & Optima Li, Flash 
  • Electric Motorcycle: AE 47
  • Electric Rickshaw: Raati
   
 Flash      HE 18
   
   Photon Li       HE 17  

Some of the Hero Electric’s products displayed at the Auto Expo 2018 

Future Plans

  • The company will expand its capacity from 100,000 units per annum at present(2020) to 500,000 units as the demand for electric two-wheelers is expected to rise significantly in the coming years.
  • It will also invest in increasing localization of components and establish an ecosystem for manufacturing its e-scooters, enthused by the push towards electric mobility by the Union government.
  • The company launched 3 new electric vehicles – a motorcycle(AE 47), a high speed scooter(AE 49) and a buggy at the Auto Expo in February, 2020. Also displayed were prototypes of 4 other vehicles targeted towards the cargo delivery business purpose.

Partnerships

  • In Apr 2017, the company tied up with Bosch to offer better technology and higher speed in its product lineup and to source powertrains for its range of e-scooters.
  • Hero motocorp Invested $19 M  in Ather Energy in July 2018.
  • Hero Electric in December 2018, raised ₹160 crore from Mumbai-based Alpha Capital to build its second factory, develop new products and expand dealer network on hopes that local demand for its eco-friendly products will nearly double in the next few years.

R&D

  • Hero Electric will be investing ₹700 crore in research & development (R&D), model portfolio, dealer network, localisation and state-of-the-art manufacturing unit in Ludhiana from october 2019.
  • It has collaborated with the Punjab government to support and develop the electric vehicle infrastructure by attracting existing and potential players to invest in the State.

Read EV Next posts on the India electric vehicle strategy for these companies: ABB | ACME | Altigreen Propulsion | Amara Raja | Ashok Leyland | Ather Energy | Audi | Bajaj | BASF | Bharat Forge | Black & Veatch | BMW | Bosch | Continental AG | Denso | Exide | Exicom | Ford | Fortum | General Motors | Great Wall Motors| Greaves | HellaHonda | Hyundai | JBM | Kia | Kinetic Green | LG | Mahindra Electric | MG Motors | Nissan | Ola | Olectra | Panasonic | Piaggio | Porsche | Renault | Samsung SDI | Schneider Electric | Sun Mobility | Tata Autocomp | Tata Motors | Tata Power | Toyota | TVS Motors | Uber | UL | Volvo |


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Know more on how EV Next can assist your business in your strategy for the e-mobility and electric vehicles sectors, Here

Wish to know everything about India’s EV market from one place? Check out the India EV Expert Guide, an 800 page comprehensive guide to the Indian EV marketHere



Categories: E-mobility, Electric Vehicles, EV OEMs Strategy, Indian E-mobility Strategy

Author - Narasimhan Santhanam


Thank you for reading this post – hope it was helpful. You can connect with me at narsi@eai.in. My detailed profile here and my LinkedIn profile here

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