Hero Electric to launch new products, a high-speed scooter in-the-works
What's the story
From cab aggregator Ola to homegrown start-up Ampere, many players are looking to get their electric vehicles on Indian roads.
And Hero Electric, one of the leading electric two-wheeler manufacturers in India, is not far behind either.
The company has said that it will be introducing a host of new products this year, including its much-anticipated high-speed electric scooter code-named AXLHE-20.
Here's more.
Flagship worthy
About Hero Electric's high-speed e-scooter
Hero Electric's upcoming scooter, the AXLHE-20 (codename) will get a 4,000-watt motor.
The motor will generate a peak power of about 6,000 watts and can propel the scooter to a top speed of 85 kmph while giving it a range of 100-110 kilometers on a single charge.
According to reports, the AXLHE-20 will also come with connected technologies including smartphone integration and Bluetooth pairing.
Data
Hero Electric aims to launch more products to boost sales
In a bid to increase sales volumes, Hero Electric plans to launch up to 7-8 new products this year. It has sold over 30,000 e-scooters in FY2018 and aims to triple the sales in FY2019 while targeting six lakh units in annual sales by 2022-23
Pumping crores
The company looks to invest in R&D and manufacturing
Since 20018, Hero Electric has spent Rs. 400 crore in its business in India.
And now, as the Indian market for electric vehicles looks to grow further, the company plans to invest another Rs. 500 crore over the next few years.
With this investment, Hero Electric will aim to strengthen its manufacturing capacity along with supplementing its research and development capabilities.