Hero Electric is planning to export two-wheelers from 2019 to multiple nations which include regions in the Asian and African continent.
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In India, Hero Electric eyes double the sales in the present fiscal. The company sold around 30,000 electric two-wheelers in the previous fiscal.
On this development, Hero Electric Managing Director, Naveen Munjal said, “Although our primary focus remains domestic market, we will start some exports to some Asian and African countries from next year.”
He added, the quantum of overseas shipments would remain small as compared to a domestic market where it aims to sell over one lakh units by 2020-21.
Munjal further added, “We aim to double our sales this fiscal and again next fiscal. We are looking at sales of over 1 lakh units per annum by 2020-21.”
The company's sales network is also likely to double to nearly 900 dealerships from the current 450 by that period, he said.
Hero Electric would “launch at least two new models each year” going ahead. It will increase production volume at its Ludhiana facility to approx 80,000 units by April 2019 plus investment in a new plant in south India, Munjal added.
The company presently has a portfolio of four models. Hero Electric two-wheelers are now available with lithium-ion batteries that give improved acceleration and range.
Mr Naveen Munjal said that the biggest roadblock was “lack of long-term strategy” from the government’s end when asked about challenges being faced by the producers in the electric mobility division.
He added, “There is a lot of ambiguity in terms of policy and the way ahead. A long-term policy would help us plan better.”
Source: PTI, ET Auto
