Anticipating exponential growth in electric two-wheelers, is poised to infuse Rs 700 crore over the next three-four years to increase its plant capacity from 75,000 units to 10 lakh units. In the first phase, the capacity will be hiked to 3 lakh units.
Hero Electric, which commands 40% of the market, will continue to keep pace with the growth.
It will continue to monitor the demand in the high-speed segment for the time being and enter only when it develops beyond the niche market. While competition is focused solely on high-speed scooters, we at Hero understand that what the consumer at large desires is a true value for money product and this is where we stand, the executive explained.
Source- Auto Economic Times