CorporateHero Electric to start exports to Lat Am, Europe by FY10 end
Two-wheeler maker Hero Electric today said it will start exporting its scooters to Latin America and Europe by the end of this fiscal and is looking for distributors in these regions.
- Massive dollar influx hurting Indian exports: FIEO - HCL Tech, UK insurance co in $200-mn pact - Gujarat may get trauma centres in 2 years - Draw export strategy of $300 bn: Assocham to govt - Sensex gains for third straight day - After 20 yrs, India may import rice
"We are now talking to distributors in Latin America and Europe for selling and promoting our electric scooters in those markets. The first sample consignment is expected to be delivered by the end of this fiscal," Hero Electric Chief Executive Officer Sohinder Gill told PTI on the sidelines of Environmentally Friendly Vehicle"s Conference.
The company is at present exploring possibilities to sell the scooters in Brazil, Uruguay, Paraguay and Argentina besides, some European countries, he said.
"We are developing an export specific vehicle, which will be homologated for those countries...It will not be launched in India," Gill said.
Gill, however, declined to comment on how many units will be shipped out of the country for the overseas market.
The company will launch one new electric scooter in the domestic market in the next two months. It has already launched one hybrid model last month. Gill said the company"s margins are under pressure on
less volume as it has a capacity to produce 220 units per shift but is producing only 90 units per day at its Ludhiana facility.
In the 1.10 lakh domestic electric two wheeler market, the company is expecting to sell 25,000-30,000 units this fiscal, he said.