New Delhi. The country’s largest two-wheeler manufacturer Hero MotoCorp is now moving towards the launch of its electric two-wheeler range in international markets as well. Addressing the shareholders in the company’s 2023-24 annual report, Hero MotoCorp CEO Niranjan Gupta said that the company has a roadmap ready to rapidly grow its electric vehicle business.
Looking towards leadership in the electric two-wheeler segment, Hero MotoCorp is planning to introduce affordable models in FY25, which will add to the company’s existing portfolio of VIDA V1 Pro. The company will launch products in the mid and affordable segments this financial year. The new products to be launched will compete with affordable electric scooters from TVS and Ole.
Strengthening the charging infrastructure
Hero MotoCorp’s VIDA electric scooter range is priced between Rs 1-1.5 lakh, which is the price after getting subsidy. The company has set up India’s largest public charging infrastructure for VIDA EV in collaboration with Ather Energy. Apart from this, the company will expand its reach to foreign markets under the partnership with Zero Motorcycles.
Preparations for launch in foreign markets
Pawan Munjal, Chairman, Hero MotoCorp, said, “I am particularly pleased to see the emergence of the VIDA V1 as one of the leading electric scooters in India, and I look forward to its future launches in global markets, where it is set to become a significant player.” Hero MotoCorp has already expanded the presence of its EV scooter VIDA from three to over 100 cities.
“Innovations are underway at our state-of-the-art R&D centres at CIT Jaipur and Tech Centre Germany to build a winning portfolio across all segments,” Gupta told shareholders. He added that the company also plans to push more premium products and grow international, accessories and merchandising businesses.
Tag: auto news, electric scooter, Hero MotoCorp
first published : July 23, 2024, 2:42 pm IST
