Hero Electric resumes production, seeks Rs 1-2 billion investment to scale up
Hero Electric has restarted production at its factory in July, initially operating on a smaller scale with limited scooter manufacturing. To return to full production capacity, the company is seeking an investment of Rs 1-2 billion from both existing and new investors, including private equity funds.
The company has also responded to recent claims from some of its 800 dealers, who allege that Hero Electric owes Rs 5 billion in advances for electric two-wheelers. Hero Electric has dismissed these allegations as unfounded.