Hero MotoCorp Working On Affordable Electric Two-Wheelers

The electric two-wheeler industry has been booming. Besides several new Original Equipment Manufacturers (OEM) introducing new products; incentive schemes from the Government of India, like EMPS 2024, and FAME-II, are further helping this scene to bolster. 

Interestingly, India’s largest two-wheeler manufacturer, Hero MotoCorp, hasn’t been able to take much advantage of these developments. With just one electric two-wheeler product via its Vida sub-brand, Hero MotoCorp has somehow alluded itself to this growth. 

(Also Read: Hero MotoCorp Announces Price Hike From July 1)

However, all that is about to change for the company has confirmed that it is working on introducing new EVs which will launch by this fiscal year. Hero MotoCorp’s CEO, Niranjan Gupta, confirmed the same while addressing the company’s shareholders at its Annual Report for 2023-24. 

These upcoming electric two-wheelers will be in the “mid- and affordable segment” and built around the existing Vida V1 platform. At the conference, the price range of these upcoming scooters was confirmed to be somewhere between ₹1-1.50lakh, after factoring in subsidies. Earlier this year, Hero MotoCorp had also filed a patent for a new e-scooter. While details about this upcoming scooter are still unknown, the design hints at a family-friendly electric scooter. You can learn more about the scooter by following the link here.

On the sidelines, Hero MotoCorp’s Executive Chairman, Dr. Pawan Munjal further confirmed that the brand is working on a new electric motorcycle, in collaboration with Zero Motorcycle. This new product will be aimed at a distinct customer segment which will help broaden the company’s presence in international markets. Furthermore, with these new products, the company aims to scale its global operations with a special focus on the top 10 markets. 

(Also Read: Hero MotoCorp To Setup New Bike Manufacturing Plant In Brazil)

Besides working on expanding its EV portfolio, Hero will also need to expand its Vida network. Currently, there are 100 Vida showrooms across India, and to attain the level of popularity and sales that its existing ICE two-wheelers enjoy, Hero MotoCorp will need to increase this number significantly. 

The company has already helped establish a robust charging infrastructure in the country in collaboration with Ather Energy. But it will also need to back it up with enough service centres for its EVs to cater to a large audience.