Hero MotoCorp is bringing an electric bike in collaboration with its US partner, know what the company’s plan is
Hero MotoCorp is in an advanced stage of developing a medium-sized performance segment electric motorcycle with its American partner Zero Motorcycles. A top company official gave this information. California-based company Zero Motorcycles specializes in electric motorcycles and powertrains. In September 2022, the board of directors of Hero MotoCorp approved an equity investment of up to US$60 million in the company. In the year 2023, the companies announced a collaboration for the development of premium electric bikes.
Developing with Zero Motorcycles
Hero MotoCorp Chief Executive Officer (CEO) Niranjan Gupta said in an analyst call, “As far as EV motorcycles are concerned, we are developing it in partnership with Zero Motorcycles. It (bike) will come in the middle weight segment0. “He said, “It is in the advanced stage. We have not yet announced the timeline for this, but we are looking at something that will not be too far away. ” Gupta said that this bike will come in the performance segment. The company is also expanding its electric scooter series in several value segments in the current calendar year.
Vida Electric Scooter
He said, “As far as electric scooters are concerned, within six months we will complete it in most value segments and customer segments. ” Hero MotoCorp’s current Vida electric scooter series is currently priced between Rs 1 lakh to Rs 1.5 lakh, including government subsidy. The company sells the Vida series in more than 230 cities and towns across the country. These have more than 400 sales touchpoints. Hero MotoCorp expects its electric products to come under compliance with the production-linked incentive (PLI) scheme by FY2025-26. On the overall business scenario, Gupta said, “I think the economy is in a more positive zone than before and we are very optimistic about the outlook for the economy in general and the auto sector in particular. So overall, I would say the festive fervour will continue even after the festive season.”
