Hero Electric, one of India's leading manufacturers of two-wheeled electric vehicles, showcased its battery-powered Zion and Optima Plus scooters at the Toronto International Spring Motorcycle Show this past weekend. With over 300 sales and service outlets across India, Hero Electric is a well-established brand.
Hero is looking to expand beyond India and is eying the European and North American markets. For the past two years, the electric scooter maker has been developing and testing two products that it believes are uniquely suited for the North American market, the Zion and Optima Plus.
Hero Electric aims to begin selling electric scooters equipped with Electrovaya's lithium-ion SuperPolymer batteries in the Canadian market by the end of 2011. Initially, the scooters will be marketed in the Greater Toronto Area. However, plans call for a Canada-wide distribution network to be established soon; expansion into the U.S. seems to be a possibility.
Electrovaya's Battery Technology to Power a New Line of Electric Scooters
TORONTO, ONTARIO--(Marketwire - April 8, 2011) - Electrovaya Inc. (TSX:EFL) today announced further cooperation with Hero Electric, India's leading producer of two-wheeled electric vehicles. Hero's electric scooters, powered by Electrovaya's Lithium Ion SuperPolymer batteries, will be showcased at the Toronto International Spring Motorcycle Show on April 9th and 10th. A trusted brand name with over 300 sales and service outlets across India, Hero Electric has been developing and testing its products in Europe and North America for the past two years. The Company has developed two electric scooter products uniquely suited for the North American market, the Zion and Optima Plus.
"Hero Electric is an established company with a solid brand reputation in an industry that will see its share within the transportation market grow as the price of oil continues to rise," said Dr. Sankar Das Gupta, CEO of Electrovaya Inc. "Our Lithium Ion Super Polymer battery technology is an ideal fit for the two-wheel electric vehicle model because of its scalability, efficiency and green NMP-free production process."
"We are extremely pleased to continue our existing partnership with Electrovaya to deliver lithium ion powered electric scooters to this growing market. We will offer both lead acid and lithium ion powered scooters in India and North America. Given the limitations of lead acid batteries, we expect lithium ion batteries to revolutionize the electric vehicle market," noted Naveen Munjal, Managing Director of Hero Electric.
Hero Electric plans to start selling electric scooters fitted with Electrovaya's lithium ion batteries in the Canadian market in the third quarter of 2011. "Initially the scooters will be marketed in the GTA and very soon thereafter the distribution network will be expanded to most of the critical markets in Canada." said Sohinder Gill, CEO of Hero Electric.
Electrovaya Inc. (TSX:EFL) designs, develops and manufactures proprietary Lithium Ion SuperPolymer® batteries, battery systems, and battery-related products for the clean electric transportation, Utility Scale Energy Storage and smart grid power, consumer and healthcare markets. The Company's mission is to accelerate clean transportation as a commercial reality with its advanced power system for all classes of zero-emission electric vehicles and plug-in hybrid electric vehicles. The Company's other mission is to deliver Utility Scale Energy Storage Systems for the highest efficiency in electricity storage, whether the electricity is generated from intermittent wind and solar power or from other sources. Founded in 1996 and headquartered in Ontario, Canada, Electrovaya has production facilities in Canada as well as in the US, and customers around the globe. To learn more about how Electrovaya is powering mobility, please explore www.electrovaya.com.
About HERO Electric:
HERO Electric, a subsidiary of the HERO Group, is a pioneer in the Indian Electric Vehicle Industry. With a background of extensive research, HERO Electric entered the Electric vehicle segment with the single objective of providing eco-friendly, cost-effective mode of personalized transportation with its range of Electric Two-wheeler models. Over a short period of time, HERO Electric has been quick in establishing itself as an undisputed leader in the Electric Two-wheeler segment. The Hero Group is one of the world's largest producers of two wheelers. To learn more about HERO Electric please visit www.heroelectric.in.
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