Hero Electric unveils Charging Stations for Electric 2-Wheelers

Company Brief

New Delhi, August 28, 2008

Hero Electric, a 100% subsidiary of the Hero Group, and an undisputed leader in the electric vehicle segment, today unveiled the first-of-its kind charging station for all electric 2 wheelers at Sethi Scooter Service, Jangpura in New Delhi. With the opening of this station 12 more charging stations would be active across various PGOs in Delhi from today onwards. This new charging technology is a breakthrough innovation as it will allow commuters to charge their vehicles while on the move.

In the first phase, Hero Electric would be installing charging stations in conjunction with garage owners termed as Hero Electric PGOs (Preferred Garage Owners) across Delhi. Thereafter, it will be setting up charging stations in several places like parking lots, malls, schools, etc and other convenient places throughout the country to help develop the transportation infrastructure needed to support electric vehicles.

Speaking on the occasion Mr. Sohinder Gill, CEO, Hero Electric, said, “One of the main reasons electric vehicles have thus far failed to break out into the mainstream is due to the lack of infrastructure in place - namely the fact that there are no recharging stations for electric vehicles to be re-powered while on the move. Hero Electric is now attempting to address this problem by setting up a network of charging stations for electric 2-wheelers across India. ”

According to the plans, there will be initial 2000 recharging stations during the fiscal year in 2009, which will be expanded to 10000 in the next three years.

“We hope the move will help accelerate the adoption of electric vehicles, while providing current owners with more convenient charging options around town.” Mr. Gill further added.

The charging stations are designed in-house at Hero Electric R&D design Centers and are capable of charging the battery in the shortest possible time.

The charging station at Hero Electric PGO’s will have electronic timers along with DC regulated power supply which will allow the electric 2-wheeler to charge in the multiples of 1,2 hours and the consumer will be charged Rs. 5 for an hours charge, Rs.10 for 2 hours and so on. The user can run the vehicle for approximately 10-20 km in an hour of charge depending on the condition of the battery.

The EV segment has gained importance due to India looking into alternative fuel options in transportation, with petrol prices soaring high like never before. To cater to the increasing demand for EV models in the market, Hero Electric has doubled its existing production capacity from 220 units a day to 440 units a day across two shifts. The company is targeting sales of 70,000 units by this year.

For further information, please contact:

IPAN

Aparna Srivastava

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EMail: aparna.srivastava@ipan.com