The brand will work in conjunction with the government to attract existing and potential players to invest in the state as part of their e-mobility vision.
Hera Electric store. (Image source: Hero)
Hero Electric has announced its collaboration with the Government of Punjab to support and develop the EV infrastructure in the state. The brand will work in conjunction with the government to attract existing and potential players to invest in the state as part of their e-mobility vision. Through this partnership, the state aims at appealing to manufacturers to not just make in India but, make in Punjab. Hero Electric recently announced an investment of Rs 700 crore in its R&D, model portfolio, dealer network, localization and its state-of-the-art manufacturing facility in Ludhiana.
The Government of Punjab has proactively encouraged electric mobility and development of infrastructure with lucrative incentives and other beneficial schemes for ease of business, which has helped in the growth of the overall E2W industry. Punjab offers net GST reimbursement for 7 years up to 100% FC, employment subsidy of up to Rs 48,000 per year for 5 years and being one of the most well-connected states in India it also offers ease of logistics amongst others, which make it appealing to the existing as well as potential electric vehicle manufacturers. Additionally, Punjab has robust connectivity and proximity to OEM Clusters in NCR, Haryana and Rajasthan, which account for 60% of India’s total production of the two-wheeler segment. This will further help in making driving down the transportation costs of the existing and new businesses.