Date:15/05/2008 URL: http://www.thehindu.com/2008/05/15/stories/2008051555762100.htm

Business

Hero Electric plans expansion

Kochi: Hero Electric, a subsidiary of the Hero Group, on Wednesday announced its plans to expand its dealership network in the southern States to leverage the growth in the electric vehicle (EV) segment. It also announced its plans to launch a new range of electric scooters in the low and high speed EV category. The company plans to invest around Rs. 80 crore in boosting its manufacturing plant in Ludhiana, Punjab, besides developing its research facility. It will also be investing on training the dealers to educate consumers on the benefits and features of EVs, according to Naveen Munjal, managing director of the company. — Special Correspondent