Hero MotoCorp, India’s largest two-wheeler maker, is gearing up for the electric vehicle market with plans to launch premium e-bikes priced over Rs 4 lakh in collaboration with Zero Motorcycles, a US-based company. The company will also expand its green portfolio with more affordable versions of its Vida electric scooter, targeting the entry-level and B2B segments.
The announcement was made at the Hero World 2024 event, where the company also unveiled new petrol motorcycles such as Xtreme 125R, Harley X440 and Mavrick440. Niranjan Gupta, CEO of Hero MotoCorp, said that the company is focusing on premiumisation in its core business while investing aggressively in electrics.
“The game in electrics has just started,” Gupta said, adding that the company will leverage its global presence to sell EVs in different markets. He said that the e-bike from Zero Motorcycles will be performance oriented and aimed at those buying 400cc-plus petrol motorcycles. “We are working on it and expect the motorcycle to be priced at around Rs 4-5 lakh.”
Gupta also said that the company will launch a mid-priced and an economically-priced version of Vida, which is currently priced at Rs 1.2 lakh (ex-showroom). He said that the company is looking at a B2B commercial version of Vida, which is suitable for last-mile delivery. “We feel that it is a promising and large segment.”
Gupta expressed optimism about the recovery of the two-wheeler market, which had been under pressure for the past few years due to weak demand from entry-level buyers. He said that the environment is now getting better and the company is confident of maintaining its leadership position.