Hero Electric, India's leading electric two-wheeler company, has announced that it will not increase the prices of its popular e-scooter models. Despite the recent reduction in the FAME II subsidy, the company remains dedicated to promoting the adoption of E2 Wheelers and dispelling misconceptions about their cost of ownership.
The Government of India recently reduced the subsidy for electric two-wheelers under the FAME II scheme, resulting in a significant price hike for electric two-wheelers.
However, Hero Electric aims to support customers during this transitional phase and ensuring that electric mobility remains affordable and accessible. As affordability plays a pivotal role in accelerating the widespread adoption of electric vehicles, maintaining price stability becomes a crucial step toward achieving this goal.
India, being a two-wheeler market, demands affordable and sustainable mobility solutions. By keeping the prices of its e-scooter line-up unchanged, the company hopes to encourage a larger number of consumers to switch to electric vehicles without incurring additional costs.
Sohinder Gill, CEO, Hero Electric, stated, "The sudden and sharp tapering of subsidies does not bode well with the customer and may lead to the drop in the E2W adoption. While the industry may still clock higher sale than the last year but may not be able to keep the tempo of the exponential growth and may even fall short of the target of 2.3 million units as projected by Niti Aayog. Despite the extreme financial crunch forced upon us due to subsidies stuck with MHI for over 15 months, we will continue to do our bit in offering affordable mobility solutions to the discerning customers by holding on to our current prices till we can."
Hero Electric offers a diverse range of e-scooters that caters to various segments and customer preferences. The recently launched models, Optima CX 5.0, Optima CX 2.0, and NYX, feature cutting-edge Japanese motor technology for a smoother ride and German ECU technology for unrivalled precision performance. These vehicles are built to withstand diverse Indian weather conditions, even in remote areas, and excel in terms of reliability, performance, and affordability. Additionally, they come with features such as remote maintenance, enhanced battery life protection, and improved charging efficiency.
With this announcement, Hero Electric reaffirms its position as a market leader committed to providing sustainable and cost-effective mobility solutions to a wide range of customers.
