Hero Electric is working with the Government of Punjab to support and develop Punjab's EV infrastructure. As part of this partnership with the Punjab government, the manufacturer wants to further strengthen its role as a leader in the electric two-wheeler space by developing the state as an EV hub.
In this context, Hero Electric has already announced an investment of Rs 700 crore in its R&D and state-of-the-art manufacturing facility in Ludhiana. The company plans to increase the number of its touchpoints across India to 1,000 by end of 2020 from the current 615 and make the brand accessible across the country. The company also aims to ramp-up its electric-scooter production capacity to 5,00,000 annual units over the next three years, with a focus on low-speed scooters for last-mile connectivity.
Commenting on the collaboration, Naveen Munjal, MD, Hero Electric, said, “What has always enabled Punjab to be ahead of other states is the readiness to embrace and promote e-mobility in the state and the number of incentives offered to attract investment. I am sure Hero Electric and the state of Punjab can together make a considerable difference and lead e-mobility in the country.”
The Punjab state government will be offering incentives – like net GST reimbursement and employment subsidy of up to Rs 48,000 per year for five years – to attract more investment in the e-mobility space.
Ved Janve
Azaman Chothia
Dinshaw Magol
Vishal Venugopal
