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Hero Lectro electric bikes to achieve full localization manufacturing by next year. The company will promote production of their Electrically Pedal Assisted Cycle (EPAC) part of Make In India initiative.
Hero plans to implement this project within one year, and aims to reduce the cost of the products significantly. The company also wants to achieve full localization of the accessories as well. Currently, the design for the electric bikes are done in Manchester, UK, and it has an R&D centre in Greater Noida.
The company plans to initially produce the battery and controller used for the electrically pedal assisted cycles. As these are the main components of the e-bicycles, localization of these units will make their product cheaper to own.
Hero is currently the market leader for electric bicycles in the country. However, with this initiative the company aims to increase the market share to 10 per cent in the e-Cycles market, and 2 per cent of scooter and motorcycles market in three years.
According to the company's officials, the demand for Hero Lectro e-Cycles are majorly from Tier-II cities, which constitutes to 65 per cent and the rest 35 per cent come from Tier-I cities across the country. They also confirmed that the response from Southern part of the country has been good, and that Bangalore has so far been the best performance city.
Aditya Munjal, Director, Hero Lectro, believes that e-bicycles would play a major role as the country is moving towards green mobility to tackle the increasing pollution. He also seeks that e-bicycles should be available with benefits of the Faster Adoption and Manufacturing of Electric Vehicles-2 (FAME-II) scheme, which would provide incentives to e-bicycle makers and lower the price of the bicycles.
The FAME-II from Indian government offers incentives to auto manufacturers, who invest in developing electric vehicles and their components, including lithium-ion batteries and electric motors. This helps the manufacturer to sell their EVs cheaper making it affordable to the buyers.
In other news, Hero Lectro recently launched another product to their existing line-up of e-cycles. Called the Townmaster features a claimed range of 30 to 40 kilometers on a single charge — here are more details.
Thoughts About The Lectro Electric Bikes Full Localization
Hero plans to further reduce the price of their Lectro electric cycle line-up. The e-cycles are currently ranged between Rs 17,000 to 31,000, however, with the complete localization under the ‘Make In India' initiative, the prices will further come down. The e-cycles are a great way to offer last mile connectivity and with a range of 20km to 30km it is certainly an affordable way to travel as well.