Two Hundred Hero Electric Dealers Protest At Gurugram HQ Seeking Rs 500-Crore Dues
The outstanding dues include a ledger balance of Rs 300 crore and unpaid warranty expenses worth Rs 100 crore.
At least 200 dealers of Hero Electric Pvt. have been camping outside the company’s headquarters in Gurugram, seeking dues that run into hundreds of crores.
“We have been here for three days now,” Nishant Bansal, a dealer who operates two Hero Electric outlets in Delhi’s Uttam Nagar and Nangloi Jat areas, told NDTV Profit over the phone. “Hero Electric has not paid dealers for the past two years now. The outstanding dues have run up to about Rs 500 crore.”
The company’s management met the dealers outside the headquarters, but refused to pay even a part of the outstanding dues, according to Bansal.
“We urged them to pay at least half of the dues, even a quarter, so that we can support our families. They (the management) simply refused and said, ‘jo karna hai kar lijiye’ (you are free to take any recourse),” Bansal said.
The outstanding dues include a ledger balance of Rs 300 crore, unpaid warranty expenses worth Rs 100 crore and unsold electric scooters—which were delivered without battery or charger—worth Rs 150 crore, the dealers said.
When contacted, Hero Electric acknowledged the protest outside their Gurugram headquarters.
“Yes, there’s a protest going on. We will soon issue a media statement on the same,” a spokesperson for the company told NDTV Profit.
A market leader less than four years ago, Hero Electric fell off the cliff after it was found that the Naveen Munjal-led company had flouted local procurement and import norms under the FAME-II EV incentive scheme. Its manufacturing plant has been shut for more than a year now. The market share is practically non-existent.
