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Hero Electric has postponed the launch of its first electric motorcycle, the AE-47 in the Indian market. Naveen Munjal, Managing Director, Hero Electric confirmed the news during an interview with Fast Bikes India.
The Hero Electric AE-47 motorcycle was first showcased at the 2020 Auto Expo, held during earlier this year. During the interview, Naveen Munjal stated that a launch of the AE-47 electric motorcycle was possible within six months. However, they have now decided to delay the introduction of the electric motorcycle by at least a year.
The delay in the launch is mainly due to the current market situation in the country. Hero Electric feels that the EV market is too small and niche at the moment. The current market situation doesn't justify the investment required to launch the product and sell it.
The Hero Electric AE-47 once launched in India would be priced at a premium of around Rs 2 lakh. This makes it inaccessible for the majority of its customers. Munjal also stated that at this premium price point, customers demand high performance, which results in the batteries draining out faster.
To get over this problem, electric motorcycle manufacturers will either have to invest in higher-capacity batteries or setting up charging infrastructures across the country; both of which will result in an increase in the overall cost of the electric motorcycle as well. Also, another factor to consider is the relatively high price of replacement of batteries after their lifecycle.
Talking about the Hero electric motorcycle itself, the AE-47 comes powered by 4kW electric motor mated to a 3.5kWh lithium-ion battery pack. The electric motorcycle offers two riding modes: Eco and Sport, with the maximum range claimed to be at 160km on a single charge (in Eco mode).
Thoughts On The Hero Electric Motorcycle India Launch Plans
The company feels that the electric motorcycle segment is at a very nascent stage, and that the electric scooter faring much better in the market, given the current situation. The Hero Electric AE-47 motorcycle once introduced in India, will rival the likes of the Revolt RV400 and maybe even the Ultraviolette F77 as well.