Hero Electric anticipates electric scooter demand to significantly grow soon - IAB Report
Hero Electric is the largest electric two-wheeler manufacturer in India. The company expects the demand for electric scooters in the country to rise significantly soon.
The lockdown implemented across the nation to contain the spread of the deadly coronavirus has drastically reduced the demand for automobiles, including electric vehicles. However, Hero Electric expects that post COVID-19, there will be a substantial increase in the adoption of electric scooters.
Hero Electric said that considering the current scenario, it is likely that the Indian automotive sector won’t return to the ‘old normal’ market anytime soon. The ‘new normal’ will bring in many challenges along with multiple opportunities.
To reduce the odds of getting infected with the coronavirus, people are now adopting social distancing norms. As a result, they would avoid overcrowded public transport as much as possible and use private vehicles. People would also prefer safer and economical commuting options that would lead to an increase in demand for low-cost and low-speed electric scooters.
Another factor that would direct people to switch from conventional petrol-powered vehicles to electric vehicles is refuelling. With electric vehicles, people won’t need to go to a public fuel station for refuelling which would reduce the risk of them getting infected.
The COVID-19 pandemic has caused the air pollution levels in the country to plummet to unforeseen levels. This could also lead people to adopt smarter and sustainable mobility solutions after lockdown.
Also Read: Hero Electric offering exclusive online scheme on its electric scooters
Hero Electric said that post COVID-19, the global electric vehicle and electric vehicle infrastructure market is projected to reach 4.18 million units by 2021 from an estimated 3.42 million units in 2020, at a CAGR of 22.1% and India is expected to be a significant contributor to this growth. The ongoing coronavirus pandemic is likely to change the way Indians commute.
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