Hero MotoCorp is all set to step up its EV game with the introduction of three new electric two-wheelers in the next one year. The two-wheeler manufacturer confirmed that two of the three upcoming models will be an electric scooter and an electric motorcycle. Hero MotoCorp recently showcased the new Vida electric dirt bike concept at the EICMA. The upcoming electric scooter will be launched in the mid-segment.
Niranjan Gupta, CEO at Hero MotoCorp, revealed the two-wheeler manufacturer’s electric vehicle plans for India for the next one year on the sidelines of the Hero World 2024 event held in Jaipur on Tuesday, January 23. The company unveiled two new motorcycles – the Mavrick 440 roadster and Xtreme 125R – during the event. It also promised to expand its production capacity to around 10,000 units every month.
Speaking about the company’s EV plans, Gupta said, “In FY25, we will launch electric scooters in the mid-price segment and in the economy segment to extend our Vida range. We will be launching another electric two-wheeler in the B2B last mile delivery segment, which is a big segment.” Vida is Hero MotoCorp’s electric vehicle wing which sells its own lineup of electric scooters like V1 in India. Hero has increased Vida’s footprint in India to 100 cities and plans to expand to 100 more in the next one year to boost its EV sales.
(Also read: Hero Mavrick 440 roadster makes global debut, bookings open in February)
According to Hero MotoCorp, the plans to introduce electric motorcycles co-developed with US-based company Zero Motorcycles, will take more time. According to Gupta, the electric motorcycle is still too costly for the Indian market and a decision will be taken later when to launch the motorcycle. However, Hero will use Zero Motorcycles’ EV technology to develop electric motorcycles for the more affordable segments in future.
The partnership between Hero MotoCorp and Zero Motorcycles was inked back in 2022. The deal is meant to combine the expertise of Zero in developing powertrains and electric motorcycles with the scale of manufacturing, sourcing and marketing of Hero MotoCorp. This collaboration comes after Hero MotoCorp invested $60 million in Zero Motorcycles.