Hero Lectro, the electric bicycle brand of Hero Cycles, on Wednesday said it has increased prices of its products by up to ₹5,000 across models to offset the impact of rising input material and freight costs.
The price hike ranges from 7.5 per cent to 12.8 per cent across the product portfolio, the company said in a statement.
Hero Lectro sells a range of electric bicycles such as the C series consisting of 10 variants, which will now have a starting price of ₹28,999 and the advanced F6i model priced at ₹54,999 after the hike.
“While the price revision of our product line has been necessitated by external market factors such as increasing freight and input materials cost, it also ensures that our quality continues to meet customer expectations and global benchmarks,” Hero Lectro CEO Aditya Munjal said in a statement.
He further said, “with an increase between ₹3,000 and ₹5,000 across models, Hero Lectro continues to offer one of the most technologically advanced and convincing value propositions in the Indian e-cycle space along with an ever-strengthening customer service network, both physical and virtual, for its riders.” The company sells its products through over 600 dealer outlets across the country, the statement said.