Hero Electric Eazy Updates

Thursday, 17 October 2024 05:58 AM Hero Electric dealers are seeking settlement of pending dues, alleging that the company owes them Rs 500 crore in advances for electric two-wheelers. The dealers also complain about the halt in production and lack of parts for warranty claims.

Monday, 14 October 2024 03:35 PM Hero Electric has approached the Ministry of Heavy Industries to resolve the ongoing dispute over subsidy misappropriation. The company has suggested several options, including imposition of a fine, adjustment of subsidy amounts, and third-party reinvestigation to settle the dispute. Hero Electric is also seeking the release of pending subsidies worth Rs 556 crore.

Thursday, 10 October 2024 08:30 PM Hero Electric announced its entry into the premium segment under the A2B brand, aiming to introduce a diverse portfolio of premium electric bikes, scooters, and other variants. This move is part of their de-aggregation strategy to cater to multiple segments in the electric mobility space.

Friday, 20 September 2024 06:37 AM Hero Electric has resumed production and is seeking up to Rs 200 crore to boost output. Despite a 56.3% month-on-month drop in electric two-wheeler sales in June due to price hikes, the company remains optimistic about its future plans.

Sunday, 15 September 2024 08:00 AM Hero Electric, along with other EV manufacturers, was barred from participating in government incentive schemes due to violations of mandatory localisation norms. The company is now working to resolve these issues and regain eligibility for subsidies. I believe this could significantly impact their market presence if not resolved promptly.

Sunday, 25 August 2024 11:21 PM Hero Electric has announced its entry into the European market, expanding its business beyond Asia, Africa, and Latin America. This move is part of their global expansion strategy to increase their market share in the electric mobility sector.

Tuesday, 20 August 2024 01:35 PM Hero MotoCorp, the parent company of Hero Electric, plans to launch three new electric two-wheelers in the next year, including models in the mid-price and economy segments, as well as a B2B last-mile delivery segment. I think this diversification will help them capture a broader market.

Tuesday, 30 July 2024 04:55 PM Hero Electric is leveraging technology from its partnership with California-based Zero Motorcycles to develop new electric vehicles, although the launch of electric bikes through this partnership is still on hold due to market and cost considerations.

Saturday, 15 June 2024 06:06 AM Dealers have complained about the lack of parts for warranty claims, highlighting issues with after-sales support for Hero Electric vehicles. The company needs to address these concerns to maintain customer trust.

Tuesday, 11 June 2024 12:08 AM Electric two-wheeler sales, including those of Hero Electric, dropped significantly in June due to price hikes of 15-18%. This has affected the overall sales figures for the company. I believe they need to find a balance between pricing and affordability to regain market momentum.