NEW DELHI: Electric two-wheeler maker Hero Electric believes 2021 is going to be a disruptive year for India\u2019s auto sector because the electric vehicle segment\u2014even though it was severely impacted by the Covid-19 lockdowns\u2014is set to grow exponentially. The company expects substantial growth this fiscal year and is confident of doubling its current volumes by FY2022. <\/p>\n
\u201cWe estimate that the electric two-wheeler market will be 10-20 per cent of the ICE market in the next five years. Even at the lower level of 10 per cent, the market will expand to 2 million units per annum. If it goes to 20 per cent, around 4 million units will be sold a year. So, irrespective of which way we look at it, we are looking at exponential growth happening in the coming years,\u201d Naveen Munjal, MD, Hero Electric told this publication. At present, share of EVs in total vehicle sales in India is less than one per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: Electric two-wheeler maker Hero Electric believes 2021 is going to be a disruptive year for India\u2019s auto sector because the electric vehicle segment\u2014even though it was severely impacted by the Covid-19 lockdowns\u2014is set to grow exponentially. The company expects substantial growth this fiscal year and is confident of doubling its current volumes by FY2022. \u201cWe estimate that the electric two-wheeler market will be 10-20 per cent of the ICE market in the next five years. Even at the lower level of 10 per cent, the market will expand to 2 million units per annum. If it goes to […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,243,143],"tags":[],"class_list":["post-392805","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-new-indian-express","category-the-new-indian-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/392805","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=392805"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/392805\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=392805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=392805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=392805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}