Hero MotoCorp has announced that it has sold 3,80,476 two-wheelers in January 2022. The third wave of the pandemic, subsequent staggered state-wise lockdowns and restricted movement impacted the overall sales volume of the month.
Commenting on the Union Budget 2022, Dr. Pawan Munjal, Chairman & CEO, Hero MotoCorp, said, “One of the landmark announcements of this Budget is the battery swapping policy, which has the potential to be a game-changer in catalysing the migration to EVs. While the scale of its impact will be clear upon the formation of the policy, the industry is committed to sharing its insights and expertise with the Government to make this a reality. I am personally delighted with this move by the Government as it resonates with our Company’s and my own commitment to the cause of Sustainability."
He further added, "The renewed focus on sustainability through natural and organic farming, PLI on green energy and the creation of funds will further India’s efforts to meet climate-change goals for a sustainable future. The continued focus on infrastructure will not only improve the quality of lives and generate jobs but will also help Indian industry become globally competitive."
The enhanced spending plan on capital expenditure and increased allocation to the Rural Infrastructure Development Fund and a major push to infrastructure developments under Gati-Shakti is likely to aid a credible economic recovery and employment generation. The increased economic activity and growth in employment will fuel demand for automobiles including the two-wheelers.
Hero MotoCorp has also accelerated its global expansion plans by further strengthening its presence in Central America. During the month, the company expanded its operations and commenced retail sales at a newly opened flagship store in San Salvador the capital city of El Salvador.