Hero Electric Plans Global Expansion

By By: Vicky.in

Published: Tuesday, October 26, 2010, 13:30 [IST]

Hero Electric two wheeler version is taking it's roads to Europe and North America, as indicated by the company on expansion activities. Hero Electric's current sale volume is 30000 annual units and is on the look out for acquiring global technologies from the relevant companies. This will be in addition to the export mission done by Hero Electric to select regions of North America and West Europe. Such business deal is carried out through subordinate dealers and distributors in those regions. The current move is to expand further to the bigger market with more distributors, said the company"s MD.

Another major step is to install an assembly facility in the global market which is still on paper process, he added. He clarified that without any JV his company is exploring technology transfer from related companies with sophisticated nature. Hero Electric is at present trying its best to grab VAT exemption and subsidy advantage from the state governments in India. The company is already availing 15% subsidy in cities like New Delhi and Lakshadweep and seeks such facility from other governments too, he said. Hero Electric has 35% share target in the domestic market with its manufacturing plant located in Punjab.

In the domestic market the sale volume of 1.1 lakh electric two wheelers by hot shot companies like Avon Cycles, Electrotherm and Hero Electric.