“However, issues that hinder the pace of growth do crop up during the journey from intent to reality. Some of these issues are interposed by the policy-makers who are not fully aware of the ground realities, and some others are slipped into inconspicuously by the lobbies that are threatened by such disruptive policies,” Gill emphasised.

Despite the “malicious and carefully-curated incessant campaigns” against the company, it ended the calendar year 2022 on a high note, with e-scooters sales crossing the one-lakh mark. Gill said the company is now targeting 1 million unit sales in the coming years with an “upside of 25-35 per cent”.

Hero Electric is working towards building capacities, new products, localising components, R&D innovations etc to fuel the EV revolution. The non-metro markets hold immense potential to fasten the electric mobility revolution in the country.

“The electric two-wheeler is the belly of the market, which will see demand in Tier 2 and 3 markets as the sector overcomes the existing challenges,” he said. Hero Electric had partnered with M&M at the start of 2022 to manufacture Optima and NYX models at their Pithampur facility in Madhya Pradesh with an annual production capacity of 200,000 vehicles.