Hero Electric, a 100 per cent subsidiary of the Hero Group, has made announcement about its plan to launch a variety of electric scooters under the low and high-speed electric vehicles (EV) category.

Besides, the company has also decided to invest around Rs 80 crore in order to strengthen its manufacturing plant of electric vehicles (EVs) in Ludhiana plus the development of its R&D facility. The investment will be funded through internal accruals.

Hero Electric has established a high-tech R&D cell at Ludhiana and at Delhi to develop and produce indigenous top-notch EV motors within a period of one year to suit both high-speed and low-speed vehicles.

The company is also carrying out research to perk up the quality, effectiveness and life of batteries and other important components that run these EVs.

Hero Electric entered the electric scooter segment in the year 2007 in technical association with UK’s Ultra Motors, in which Ultra supplied the Motors for the EVs.

Now the compant has tie-ups in place with a few of the top makers of the motor, controller and batteries, which form a part of the electronics of the EVs.

Hero Electric had entered the electric vehicle market with the 250 watts range of vehicles and is now gearing up to launch high-powered vehicles.

Seeing a spurt in growth, the company has doubled up its daily production capacity from 220 units to 440 units across two shifts. With the improved capacity, Hero Electric is looking at targeting sales of 70,000 units this year.

The company has identified Gujarat as one of its major markets. In 2007-08, the company recorded sales of 6,000 units through 26 dealerships capturing a market share of 49 per cent. This year the sales target in the state is 16,000 units through 40 dealerships expecting to take a market share of 60 per cent.