Hero Electric bullish on institutional sales, sees increased traction

Hero Electric, the leading electric two-wheeler player in India, says it is beginning to see a definite and positive movement in the adoption of e-bikes in the institutional segment.

According to Sohinder Gill, CEO, Hero Electric (pictured below), bulk buyers, typically much more calculative and analytical in their buying decisions, be it cost economics or reliability, are convinced on logic and depend less on instinct. Gill says they are “now finding true value for money in switching over to Hero e-bikes and that's why perhaps we are seeing an upsurge in the institutional segment.”

In comparison, the retail customer to get fully convinced about the utility of e-bikes and its saving potential, generally seeks references and draws comfort from the visibility of the bikes on the road – which is why he/she is in a dilemma whether to buy a petrol-engined or electric two-wheeler.

Bulk buyers, according to the company, are taking to Hero Electric’s e-bikes due to the considerable savings in the total cost of ownership as also extremely low maintenance and ease of operations. Some business houses are buying these bikes under their CSR initiatives while the Air Force and the Navy procure them for their sprawling residential campuses for comfortable and easy mobility for women, senior aged members and students.

Interestingly, food delivery companies have started testing Hero Electric two-wheelers for their operations. Rentals, sharing and deliveries are a very promising and upcoming businesses that are switching over to Hero Electric bikes. A Calcutta-based e-bike taxi company uses a few dozen for last-mile connectivity while a spice wholesaler in Chandni Chowk, Delhi has been using 5 Hero Electric Optimas for the past 3 years. Electric meter readers of Discoms in North India also find the e-bikes comfortable for instant start-stop functions at numerous stops, says Hero Electric.

According to C Balagopal, the head of Hero Electric sales in Karnataka, says sahred mobility provider Zoomcar deploys a few hundreds of Hero Nyx for rentals.  Speaking on the partnership, Nirmal NR, senior vice-president and Business Head, E-Mobility, Zoomcar, says, “We found a reliable partner in Hero Electric to start our shared electric scooter business. The aftersales support through their channel partners and the required improvements for our specific use cases was very helpful. We look forward to a long and lasting partnership with Hero for the same.”

Hero Electric, which has a network of more than 450 touch-points across the country, says it has over 300,000 customers.