Hero Electric Predicts Electric Vehicle Segment to Grow Post Lockdown

Coronavirus Pandemic sees no let-down in India with nationwide lockdown now extended till 17th May 2020. The lockdown has affected the Indian automotive industry with closure of dealerships, shutting down of production units and decline in vehicle sales. With the outlook looking grim for 2020, private vehicle sector is going to see widespread adoption of electric vehicles In India. Clean-Energy fuel vehicles are slowly becoming an option for Indian customers. Post COVID-19, the global electric vehicle and electric vehicle infrastructure market is projected to reach 4.18 million units by 2021 from an estimated 3.42 million units in 2020, at a CAGR of 22.1 percent with India becoming one of the key markets for EV.

With the restrictions in place, air pollution decreased to almost 60 percent in the National Capital. The sudden decrease in pollution has impressed the consumers about the advantages of sustainable mobility solutions. Post the lockdown, Indian customers would prefer using private vehicles to reduce the risk of catching COVID-19. Apart from private vehicles, Indian customers could adopt city speed electric scooters due to low purchase cost, low maintenance and low running costs. One doesn’t need to stop at public places like fuel station as electric vehicles are supported by portable batteries. By using electric vehicles, one can avoid coming in contacts with others and thus becoming a form of contactless transportation. 

Mr Sohinder Gill, CEO of Hero Electric said, “The latest Harvard report of the adverse effect of air pollution particularly the PM 2.5 emitted from IC vehicles on COVID-19 patients is an eye-opener. Given the upcoming ‘new normal’ era, consumer focus on sustainable mobility options, preference of sensibly priced electric two-wheelers, and reluctance in going back to the overcrowded public transport system; Hero Electric foresees an exponential increase in the number of electric vehicles on road post lockdown. We have with us a wide range of electric scooters that have zero tailpipe emissions, priced between Rs.40000 to 70000 and have extremely low running costs.”

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Hero Electric has recently announced an online sales scheme on its entire range to push forward the electric vehicle concept to the Indian customers.  Taking the online-first approach, Hero Electric has been by introducing a lucrative online scheme - Rs 5,000 cash discount (all models) and Rs 3,000 cash discount on Glyde and e-Velocity, along with referral discount of Rs 1,000 - for potential Hero Electric customers. Limited to all online bookings made starting from 17 April till 15 May 2020, customers can take delivery of vehicles any time after the lockdown lifted.