In the post COVID-19 era, global electric vehicle market is projected to reach 4.18 million units by 2021, from 3.42 million units in 2020.
Hero Electric, India’s leading manufacturer of electric two-wheelers and three-wheelers, is confident that the private vehicle sector is poised to witness significant momentum in the country, making way for substantial increase in adoption of electric vehicles. According to Hero Electric, with more and more people adopting social distancing norms, the idea of adopting clean energy alternatives will become more mainstream. The company says, post COVID-19, the global electric vehicle and electric vehicle infrastructure market is projected to reach 4.18 million units by 2021 from an estimated 3.42 million units in 2020, a compounded annual growth rate (CAGR) of 22.1 per cent. And India will be poised to be a significant contributor to this growth, according to Hero Electric.
Also Read: Hero Electric Announces Discounts Of Upto ₹ 5,000 On Electric Scooters
What will drive this demand, particularly in India, is the impact the COVID-19 lockdown had on air pollution, which has plummeted to unforeseen levels at 60 per cent in New Delhi, presenting an opportunity towards the adoption of smarter and sustainable mobility solutions as consumers have taken note of the dramatic improvement in the air quality since lockdown. The ongoing coronavirus pandemic is likely to change the way Indians commute, Hero Electric noted.
Also Read: Hero Electric AE-47 Electric Motorcycle Unveiled
“The latest Harvard report of the adverse effect of air pollution particularly the PM 2.5 emitted from internal combustion engine vehicles on COVID-19 patients is an eye opener. Given the upcoming ‘new normal’ era, consumer focus on sustainable mobility options, preference of sensibly priced electric two-wheelers, and reluctance in going back to the overcrowded public transport system; Hero Electric foresees an exponential increase in the number of electric vehicles on road post lockdown,” said Sohinder Gill, CEO, Hero Electric.
Also Read: Hero Electric Unveils New Two-Wheeler Range
According to Hero Electric, considering the current scenario, it’s almost certain that the Indian automotive sector will not be going back to the old normal market anytime soon. The new normal will bring in many challenges but multiple opportunities with it as well.
To make adoption of electric vehicles effortless, Hero Electric says the company has recently announced an online sales scheme on its entire range. Taking the online-first approach, Hero Electric has been able to act very quickly and take advantage of the time on hands by introducing a lucrative online scheme – ₹ 5,000 cash discount (all models) and ₹ 3,000 cash discount on Glyde and e-Velocity, along with referral discount of ₹ 1,000 – for potential Hero Electric customers and the response has been rather encouraging. Limited to all online bookings made starting from 17 April till 15 May 2020, customers can take delivery of vehicles any time after the lockdown opens.