The company has said that it will be launching a slew of new products this year. The most anticipated launch could be the high-speed electric scooter which Hero Electric has code-named AXLHE-20. It is possible that this particular scooter could be flagship model of the company’s high-speed series which includes the Nyx, Photon and the Photon 72 V.
Reports suggest that the AXLHE-20 will get a 4,000 watt motor that makes around 6,000 watts of peak power. This can propel the scooter to a top speed of 85 kmph and give it a range of approximately 100-110 kilometres on a single charge. The AXLHE-20 will also have connected technologies such as smartphone integration, Bluetooth pairing and so on.
Apart from the AXLHE-20, Hero Electric could also launch up to 7-8 other new products in order to increase the sales volumes. The company sold over 30,000 electric scooters in FY2018 and aims to triple the sales in the current financial year. Its target is to reach six lakh units in terms of annual sales by 2022-23.
Hero Electric has spent Rs. 400 crore over the last 10 years in its business in India. The company will be investing another Rs. 500 crore over the next few years in order to strengthen its manufacturing capacity along with its research and development capabilities.