Hero Electric today announced its collaboration with the Government of Punjab to support and develop the EV infrastructure in the state. The E2W brand will work in conjunction with the government to attract existing and potential players to invest in the state. Through this partnership, the state aims at appealing to manufacturers to not just make in India but, make in Punjab. Hero Electric recently announced an investment of Rs 700 crore in its R&D, model portfolio, dealer network, localisation and its manufacturing facility in Ludhiana.
The Government of Punjab has been encouraging electric mobility and development of infrastructure with lucrative incentives and other beneficial schemes for ease of business, which has helped in the growth of the overall E2W industry.
Punjab offers net GST reimbursement for 7 years up to 100% FC, an employment subsidy of up to Rs 48,000 per year for 5 years. Additionally, Punjab has robust connectivity and proximity to OEM Clusters in NCR, Haryana, and Rajasthan, which account for 60% of India’s total production of the two-wheeler segment. This will further help in making driving down the transportation costs of the existing and new businesses.
Hero Electric recently announced the commencement of its #CodeGreen campaign which aims to celebrate the users of Zero Emission, Zero Fuel, and Hero Electric Scooters. Under this umbrella campaign, Hero Electric also inaugurated its green helmet initiative and handed over green helmets to the Hero Electric e-scooter owners.
“When I look back, I realize that it was the right decision to set up our first plant in Ludhiana, Punjab. The state has always supported us in all our endeavors, and we have found the right partner in them,” Naveen Munjal, MD, Hero Electric said.
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“The fact that has always enabled Punjab to be ahead of other states, is its readiness to embrace and promote e-mobility in the state and the number of incentives offered to attract investment from existing and new businesses. I am sure, Hero Electric and the state of Punjab can together make a considerable difference and lead the e-mobility in the country.”
Hero Electric plans to take the 615 touchpoints presently to 1000 by end of 2020 and has further investment plans in the next three years to ramp up production capacity of its electric scooters to 5 lakh units annually, with a focus on low-speed scooters for last-mile connectivity.
