May 21: Hero Electric is shifting to the higher gear to give its electric vehicle portfolio the right push. The company is currently eyeing to exploit the electric scooter market with the launch of a slew of new products this year.
Of the new launches, the highlight is the high-speed electric scooter that is codenamed the AXLHE-20. The e-scooter will be launched under the company’s running portfolio of high-speed series that includes Nyx, Photon and the Photon 72 V.
Accordingly, AXLHE-20 will be launched as the flagship model among the family, featuring a top speed of up to 85kmph. The e-scooter will be powered by a 4000 watt motor that could deliver a peak power of 6000 watts. As with the range, the AXLHE-20 will fetch up to 110 kilo-meters on a single charge. Additionally, the AXLHE-20 will also provide rider-friendly features and facilities like smartphone intergration and Bluetooth pairing.
Interestingly, the AXLHE-20 won’t be the sole model that will be launched by Hero Electric. In a bid to expand its presence, the company will also have up to 7-8 new products launched in the market to up the sales volume.
With over 30,000 sales in FY18, Hero Electric is eyeing to sell almost triple that count in the current fiscal. The company is also eyeing to up its annual sales to six lakh units by 2022-23. Hero Electric will be investing Rs500 crore over the coming few years to achieve this target. The funding will be used to bolster the capacity of its manufacturing units in addition to aiding the research and development capabilities. This comes in addition to the Rs400 crore spending of the company over the last few years.