Hero MotoCorp's Vida Plans For Expansion In The Indian E-Scooter Market 

Hero MotoCorp’s Vida electric scooter brand is gearing up for a significant expansion in the coming year. The company announced plans to launch new scooters across various price segments. This includes affordable, mid-range, and premium options. This aggressive strategy positions Vida to directly compete with established electric scooter manufacturers like Ola and TVS. Both these brands have introduced an economic version of its scooter which is intended to capture a market share. 

The expansion plans include two new Hero Vida scooter launches expected this quarter. One of these is likely to be an affordable option, potentially opening Vida's electric scooters to a wider range of customers. While Hero Vida currently offers the V1 and V1 Pro scooters, these fall under the premium category and don't qualify for government subsidies. Hero Vida has the advantage of being one of the well-known brands in the e-Scooter space to have a removable battery that can be charged separately. This adds a simplicity to the charging process as they do not have to go through the hassle of the process of setting up a charging point which usually involves various permissions if you live in a gated society.

To become more price competitive, Hero Vida's new offerings will be designed for cost-effectiveness. This will fix most of the cost problems at the parts level and make the overall scooter affordable and eligible under government PLI schemes. This shift in approach to affordability comes amidst uncertainties surrounding future subsidy levels.

Recognising the potential impact of reduced subsidies, Hero MotoCorp is implementing aggressive cost-cutting measures. The company believes these plans will allow it to navigate a lower subsidy environment while maintaining affordability for consumers. However, Hero MotoCorp also emphasises the continued importance of government support for the electric vehicle industry's long-term growth. By leveraging Hero MotoCorp's extensive financial resources, technical expertise, and vast dealer network, Vida aims to become a major contender in the Indian electric scooter market.