Hero Electric aims at expanding its market share, it strategizes to reach a target amount of 2 million before listing.
Hero Electric has successfully raised a total of Rs. 380 crore in funding. In December, the company conducted its first fundraising exercise, securing a total of Rs. 180 crores in investment.
Words by the CEO
Our Strategy is to wait for this stigma and negativity in the market to improve. We don’t want to waste the valuation of the current state of the cloud.
The government asked the company to reimburse Rs. 133 crores it had claimed as subsidies since 2019 and deprived it of future FAME incentives.
Our production capacity is acceptable; new models are already out, and two new models will roll out next year. With a five-model line-up, the investment in models is gone, and the investment in capacity is already lined up.