Hero Electric acquires 36% market share in High-Speed segment in FY20-21 so far

Hero Electric is the largest electric two-wheeler manufacturer in India. It has decent number of electric scooters in its product line-up. The company is constantly working towards making E2Ws in the country more affordable. It has recently launched several interesting schemes such as ‘Be a Bike Buddy’, Clean Air Mission 2020, and more. Considering the fact that Hero Electric is so active in the industry, no wonder that it has acquired a 36% market share in the High-Speed segment in the current fiscal so far.

According to the latest EV monthly updates released by "JMK Research and Analytics", Hero Electric continues to be a clear winner in the 1st four months of the FY20-21 with a market share of 36% in the High-Speed segment. The initiatives taken by the EV-maker in this period are being applauded by the industry and customers alike.

Hero Electric’s agile mindset led it to focus on online channels for its sales amid the pandemic. The company witnessed over 40,000 customer engagements resulting in a six-fold increase in its online sales over the previous year within the 1st four months of FY20-21. During this period, the electric two-wheeler manufacturer launched a series of attractive schemes to appease to a contemporary audience that led to greater enquiries and interest of the customers even during the peak lockdown span.

Commenting on the feat and impact of the brand’s swift actions amidst the lockdown, Mr Sohinder Gill, CEO, Hero Electric, said:

Our quick thinking, willingness to take risks, and trying different methods paid-off to not let the lockdown negatively impact our business. This fresh approach also kept the people driven and motivated and our stakeholders assured. We are happy to have been able to attract customers, more in fact, during this troubled period of lockdown and pandemic. Coming out on top with the highest number of electric scooters sold – across all categories – between April and July is a testament of our unwavering determination to work harder. We have great plans for the second half of 2020, and we are not going to let anything deter us from achieving what we set out to this year. Our no-emission mission continues.

Also Read: Hero Electric customises its electric scooters to help fight Covid-19