Hero Electric resumes production, seeks up to Rs 200 crore to rev up output

Electric two-wheeler manufacturer Hero Electric has resumed production at its factory as of July, producing scooters in small batches. The firm is now seeking a fresh fund infusion of Rs 100-200 crore from both existing and new investors, including private equity funds, to gradually increase production to previous levels, according to sources.
 

Sources close to the firm indicate that Hero Electric has rejected claims from a segment of its 800 dealers, who allege that the company owes Rs 500 crore in advances for electric two-wheelers.
 

The company contends that the actual dues are much lower, around Rs