Hero Electric, an electric scooter manufacturer, has advocated for a complete ban on the sale of fossil fuel-powered two-wheelers by 2027 in order to speed up the transition to clean energy vehicles such as electric cars. According to the company's MD, Naveen Munjal, the country is lagging behind other countries such as China in terms of adopting alternative energy vehicles. He went on to say that high pricing and a lack of charging infrastructure had hindered India's transition to electric vehicles.
According to BloombergNEF, whereas China has 97 percent of the world's electric scooter fleet, e-scooters account for just 1% of the total in India. Munjal emphasized the importance of replacing fossil-fuel driven two-wheelers with clean energy two-wheelers, claiming that the former is responsible for some of the world's most poisonous air, and that combustion engine powered two-wheelers pollute the environment more than vehicles. Despite this, fossil-fuel-powered two-wheelers account for 75% of the country's 296 million cars on the road as of 2019.
Munjal believes that a stronger electrification mandate will compel local automakers to accelerate their transition to electric cars. "Once the targets are set, businesses will begin planning backwards in terms of supply chain, reskilling, infrastructure needs, and financial consequences," he added. "Once you know what your goals are, the rest of the ecosystem starts to come into place."
Hero Electric, which was founded in 2007, aims to invest seven billion rupees to increase its capacity to 500,000 units per year. To strengthen the EV ecosystem, the electric scooter business is also focusing on establishing charging stations around the country. Hero Electric is also considering increasing its global footprint 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.
Young Indian Entrepreneur Anish making people famous with his Famo Media.
Himachal Pradesh: 3 policemen died in tragic road accident
Yamaha's RayZR 125 hybrid scooter launched: Everything you need to know