Electric scooter maker Hero Electric has advocated a complete ban on the sale of fossil fuel-powered two-wheelers by 2027 to speed up the transition to clean energy vehicles such as electric cars. According to the company’s MD Naveen Munjal, the country lags behind other countries like China in the adoption of alternative energy vehicles.
He further said that high pricing and lack of charging infrastructure had hindered India’s transition to electric vehicles.
According to BloombergNEF, while China accounts for 97 percent of the world’s electric scooter fleet, e-scooters in India account for just 1% of the total. Munjal emphasized the importance of replacing fossil fuel-powered two-wheelers with clean energy two-wheelers, claiming that the former is responsible for some of the world’s most toxic air, and that combustion engine-powered two-wheelers are the most common source of vehicles. more polluting the environment. Despite this, fossil-fuel-powered two-wheelers account for 75% of the country’s 296 million cars as of 2019.
Munjal believes that a strong electrification mandate will force local automakers to accelerate their transition to electric cars. “Once the target is set, businesses will start planning backwards in terms of supply chain, reskilling, infrastructure needs and financial results,” he said. “Once you know what your goals are, the rest of the ecosystem starts to fall into place.”
Hero Electric, which was incorporated in 2007, aims to invest Rs 7 billion to increase its capacity to 500,000 units per annum. The electric scooter business is also focusing on setting up charging stations across the country to strengthen the EV ecosystem. Hero Electric is also looking to expand its global presence by selling automobiles to Europe and Latin America. “As more competition enters the market, the market will expand and we will be there to take advantage of it,” Munjal said.