Hero Electric, is a 100% subsidiary of Hero Group, a motorcycle maker based in India. Their motorcycles are widely sold in India. Hero Electric specializes in electric two-wheelers. Hero Electric has announced plans to ramp up production and at the same time a new tax rebate on electric vehicles has been announced by the Delhi and other state governments.
This is a 15 per cent subsidy on the base price of the electric vehicle (EV) and a 12.5 per cent exemption of VAT. This translates into a subsidy of 24.5% on the ex showroom price of the Electrical Vehicles.
Hero Electric two-wheelers can run between 50 km and 70 km per battery charge. Hero Electric offers 4 models between Rs 15170 and Rs 24600. The Hero Electric Scooters, at Rs 0.10 (10 paisa) per kilometre, are also the least expensive to operate, almost 1/10 th of the cost of running a petrol driven scooter.
Hero Electric is targeting sales of over 70,000 vehicles this year, a more than three-fold increase from the 21,000 units sold last fiscal. It plans to expand...
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