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Hero Electric on Wednesday said it will start rolling out over one million vehicles annually from manufacturing units in India in the next two to three years. The company has introduced new versions of its three electric scooter models, priced between Rs 85,000 to Rs 1.3 lakh. Hero Electric is planning to set up a new plant in Rajasthan with an investment of around Rs 1,200 crore, which will have an annual production capacity of two million units.

Speaking at the launch of the new model here, Naveen Munjal, Managing Director, Hero Electric said, “We have worked closely with our partners to meet the growing demand for electric vehicles in the country. Under this, we are proud to announce that we are ready to manufacture more than one million vehicles annually from our factories. Asked when the company can touch the 1 million units per annum mark, he said it could happen in the next two to three years. The company expects its sales to be more than one lakh units in the current financial year and this figure may increase to around 2.5 lakh units in 2023-24. He added that the electric two-wheeler market is witnessing strong growth at the moment and Hero Electric is excited about it. The company is setting up a new factory at Ludhiana.

Disclaimer:Prabhasakshi has not edited this news. This news has been published from PTI-language feed.