 "Naveen Munjal")
Hero Electric's managing director, Naveen Munjal, said on Wednesday that the company's business model is robust enough not to depend on government subsidies for survival and growth. He added that the company is expecting unit sales growth of 1.7-2.5 times in 2023.
The Ministry of Heavy Industries (MHI) is considering whether to extend subsidies to electric two-wheeler makers under its Faster Adoption and Manufacturing of Electric and Hybrid Vehicles (FAME) II scheme beyond 2023-24. In 2022, Hero Electric sold 100,364 units, which is more than twice its sales in 2021, according to Vahan data.
On Wednesday, the firm launched three
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