Hero Electric e-bikes for SAARC, European markets planned

Hero Electric plans to export its e-bikes to SAARC nations in 2008. Hero Electric may also explore Latin American and European countries in a bid to find potential markets for its electric scooters and motorcycles there. The new electric scooters or e-bikes are likely to be priced in the Rs. 15,000 to Rs. 20,000 range.

Hero Electric aims to export 4000 – 5000 electric scooters to the SAARC countries and set up an exclusive dealer network for exports.

The demand for electric motorcycles and scooters is increasing because of spiralling fuel costs and costs of automobiles. To meet the demand, Hero Electric will set up a greenfied assembly unit with 60,000 to 70,000 units per year planned capacity.

Hero Electric says that the new greenfield unit may be based in south India because of the high demand for e-bikes in the region. The four southern states have contributed nearly 40 per cent towards its overall sales in India. Hero Electric plans to add two more high speed electric scooters to its portfolio in 2008.

Meanwhile, taking its green initiatives further, Hero Electric is also planning to introduce an electric car by 2013. The company is currently engaged in research on prototypes so that it can meet its commitment. Hero Electric has ambitions of building a battery-driven three-wheeler, and maybe enter the solar power space.