Hero Electric, the wholly owned subsidiary of the Hero group, will soon venture into manufacturing three-wheelers.
"We are looking at diversifying into electric three-wheelers. There are no concrete plans yet, but we will take a decision by the end of this year," said Naveen Munjal, managing director of Hero Electric. In the electric two-wheeler range, the company has 10 models, including the recently launched Optima Plus. In Delhi, Hero Electrics products are priced in the range of Rs 12,000-Rs 23,500.
Munjal said the company would launch three new scooters by the end of this fiscal. The company has also chalked out plans to earn a high share of revenue from exports. The firm has decided to foray into the overseas market starting with the export of e-bikes to Saarc countries this year. It plans to set up a Greenfield assembly facility with annual capacity of 60,000-70,000 units to meet the demand for e-bikes.