Hero Electric sees flat EV sales
Hero Electric has witnessed a flat growth in sales in the last four months.
The company launched the Dash, the Optima ER and the Nyx ER in the city last week. While the Dash will be priced at Rs 62,000, the Optima ER will carry a price tag of Rs 68,721 and the Nyx ER of Rs 69,754.
In 2018, 65,000 units of electric two-wheelers were sold of which Hero Electric sold 37,000 units. In 2019, the number of electric two-wheelers sold stood at 3,000 units in the last four months.
“What has happened in the last few months is that the number of players in the market has gone down since the government announced the FAME-II scheme that linked subsidy to the size of the battery,” said Sohinder Gill, CEO Hero Electric India.
The Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME)-II scheme has divided the electric two-wheeler market into subsidised and non-subsidised segments with the bulk of the Indian market falling in the latter segment.