There has been a rise in electric bikes as an alternative transportation mode across the world. The rising demand for e-bikes in the European market has led Indian company Hero Cycles to deliver its first batch of made-in-India e-bike dubbed Hero Lectro to Germany as it targets the EU market.
The delivery of the first made-in-India electric bikes to Europe is a milestone for Hero. It is pursuing its investment and expansion plans to get up to half a billion Euros from its Europe adventures by 2025. Chinese manufacturers and local European companies are dominating the European fast-growing two-wheeler electric vehicle (EV) turf. But Indian companies could be seeking a piece of the European pie as competitors to Chinese manufacturers. India has seen a rapid increase in the number of startups producing e-bikes, while some established manufacturers like Hero are shifting attention to this area.
India is fast rising in the development of small electric vehicles and systems. As a result, it can indeed leverage its development strides that had seen the country dominate the global motorcycle and tricycle market with some heavy-hitting companies. In addition, the policy climate in India is encouraging the blossoming and production of electric vehicles as a solution to the transportation challenges.
The coronavirus pandemic could be viewed as a proximate factor that contributed to the growth of the two-wheeler EV industry, as demand for such products grew during the pandemic. Many persons preferred to avoid crowded vehicles and sought the individuality of commuting within their cities using e-bikes. Their affordability and compact nature also endeared the e-bikes to many across the world.
To advance its European aspirations, Hero Cycles will pursue its quest to become a new leader in the European market, thus squaring up with leading Chinese manufacturers. The absence of a stringent tariff regime for Indian bikes could give Hero Cycles a competitive edge over its Chinese counterparts. Hero also hopes to leverage its massive manufacturing capacity and resources as the world’s largest motorcycle manufacturer.
Hero Cycles will hope to scale up its manufacturing capacity and exports to Europe over the next few years for it to get close to the leading Chinese manufacturers. Innovation will undoubtedly drive this pursuit, and Hero is already focused on that aspect. Hero recently partnered with Gogoro to deploy Gogoro’s innovative battery swapping system and infrastructure that could expand the range and versatility of Hero’s e-bikes.
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