Hero Electric posts over two-fold jump in festive season retail sales

Hero Electric on Wednesday reported over two-fold jump in festive season retail sales at 24,000 units during October 1 to November 15, 2021.

The company had clocked 11,339-units in the same period a year ago, the company said in a statement.

The recent amendment in FAME II policy (Faster Adoption and manufacturing of electric vehicles in India), which offers increased upfront incentives for electric two-wheelers and rising fuel prices has propelled the demand for electric vehicles resulting in heightened demand, the company said in a statement.

Commenting on the sales performance, Hero Electric CEO Sohinder Gill said, "we saw two clear indicators in our showrooms this festive season. A significant percentage of customers chose Hero E bikes over the petrol bikes and many factored environment and sustainability as influencing factors in their purchase."

This is a good indicator for Hero and the E2W industry to step into exponential growth and bring around an EV revolution that will help reduce air pollution, he added.