Hero Electric

No coercive action needed against Hero Electric for now: Delhi HC to SFIO

Hero Electric said it was willing to resolve the dispute with the ministry, which had demanded the disgorgement of Rs 133 crore paid to the company in sops, citing alleged violations of FAME II norm

Hero Electric resumes production, seeks up to Rs 200 crore to rev up output

Sources close to the firm indicate that Hero Electric has rejected claims from a segment of its 800 dealers, who allege that the company owes Rs 500 crore in advances for electric two-wheelers

Hero Electric, Benling India barred from all EV incentive schemes

MHI to write to FinMin on a wider ban in all government schemes

Centre likely to drag defaulters of FAME scheme to Delhi High Court

In addition to taking legal action in court, the ministry is also "debarring" these OEMs from participating in any other government schemes administered by the ministry

Hero MotoCorp planning to launch 3 electric scooters in 2024: CEO

Hero MotoCorp domestically sold 14,046 units of Vida in the April-December period in 2023-24. Vida comprised 4.53 per cent of its total scooter sales in the same time period, as per the SIAM data

Hero MotoCorp plans to launch 3 electric two-wheelers by early next year

With an aim to accelerate its electrification journey, Hero MotoCorp plans to bring three new electric two-wheelers in the next one year, company CEO Niranjan Gupta said on Tuesday. The company, which unveiled its new performance bike MAVRICK 440, is also ramping up production to 10,000 units a month to meet demand for motorcycles in the segment. "In FY25, we will launch electric scooters in the mid-price segment and in the economy segment to extend our Vida range," Gupta said in an interaction on the sidelines of the Hero World 2024 event here. Further, he said, "We will be launching another electric two-wheeler in the B2B last mile delivery segment, which is a big segment," he added. On the possibility of launching electric bikes through the company's tie up with California-based Zero Motorcycles, he said it will take some time as the market is still developing in India and is still costly. However, he said the technology from the partnership will be used to develop electric ...

Subsidy withdrawal on EVs may lead to stagnated growth: Ather Energy CEO

Withdrawal of government's incentive on sale of electric two-wheelers in April would prompt industry players to work hard and this could result into one or two more years of stagnated growth, Ather Energy's CEO and co-founder Tarun Mehta said on Friday. "The industry is no longer entirely dependent on subsidies for survival but an early discontinuation of the subsidy in April would prompt industry players to tighten their belts and work hard. "Despite this resilience, such a scenario would still result in one or two more years of stagnated growth, pushing the industry further away from its targets," the CEO of the electric two-wheeler firm said in a statement. The central government provides incentives on the sale of two-wheelers, three-wheelers, and four-wheelers under the FAME-II (Faster Adoption of Manufacturing of Electric Vehicles in India) scheme, which is ending in March this year. In June last year, the central government has already reduced the subsidy amount on electric .

Hero Electric seeks to settle Rs 140 crore penalty imposed by MHI

As a result, Hero Electric has made it clear that it, too, is willing to make a similar settlement of any violations that the ministry might ascertain after examining its case

Auto major TVS Motor introduces NEO AMI 125 scooter in African market

The company has business in more than 80 countries which include geographies of Asia, Africa, and Latin America. Last week, the company announced its entry into the European market as well

FAME-II subsidy violation: Hero Electric opposes Rs 130 cr refund demand

In a meeting with officials of the DHI, the company has said the period for which the government is demanding a refund of subsidies of Rs 130 crore does not apply to it

Hero Electric to diversify into premium space under A2B brand

Hero Electric on Thursday said it will diversify into premium segment under the A2B brand as it aims to create differentiated brands to cater to multiple segments in the electric mobility space. Under the A2B brand, the company will introduce a diverse portfolio of premium products including electric bikes, scooters, and other new variants in the category. "We are embarking on a de-aggregation strategy with specific brand offerings in different segments. This tactical move aims to focus on our traditional turf with the Hero Electric brand, while allowing us to break into newer segments as competition builds up in this sector," Hero Electric MD Naveen Munjal said in a statement. Hero Electric CEO Sohinder Gill said the company believes that differentiation is key to market dominance. "Going forward we will enter categories under specialist brand entities to bring focus to the market segments they represent, complementing the Hero brand as a legacy player in the mass mobility segment

Subsidies should be cut gradually: Hero Electric MD Naveen Munjal

In June, electric two-wheeler sales decreased in India by 56.3 per cent month-on-month (m-o-m) to 45,806 units, primarily due to the aforementioned price hikes

FAME-II investigation: Hero Electric gets 10 days to submit papers

Revolt Intellicorp to pay back Rs 44 crore

FAME subsidy cut, subsequent price hike take e-scooter sales down 61% MoM

The dip in sales has come after electric two-wheeler manufacturers hiked the prices of their products by 15-18 per cent

Climate tech push: EV start-ups set to power India's next unicorn club

Corner a hefty chunk of investments despite ongoing funding winter; at present, Ola is the only unicorn among 970 homegrown enterprises in the EV space

Electric E2W manufacturer Hero Electric to go public by FY26: CEO

To target 2 million vehicle sales before listing

'100% sure law will be on our side', says Hero Electric CEO Sohinder Gill

'We are talking of a practical solution and not digging our heels in saying 'we don't have to pay you a rupee'

FAME II scheme: Hero Electric, Okinawa Scooters claim 'no violation'

Hero Electric, on the other hand, said that their case was being settled in a manner similar to that of Ola, Ather, TVS, and other companies

Facing the heat: Govt slaps Rs 249-crore fine on Hero Electric, Okinawa

Hero Electric claimed that its vehicles were fully in compliance with the FAME certification in the subject period

Hero Electric denies receiving ministry letter for subsidy recovery

Rs 500 cr held up with government as unpaid subsidy, says company about electric two-wheeler manufacturing