Hero MotoCorp and Zero Motorcycles are developing a mid-sized electric motorcycle, reflecting significant progress in their collaboration. CEO Niranjan Gupta confirmed the advanced stage of development, with an expansion of electric scooters also underway. The VIDA range is currently available in various Indian markets, and the company remains optimistic about economic growth and international operations, particularly in Latin America.
Hero MotoCorp is making significant strides towards launching a mid-sized performance electric motorcycle in collaboration with its American partner, Zero Motorcycles. Niranjan Gupta, the CEO of Hero MotoCorp, disclosed during an analyst call that the development of the motorcycle is in advanced stages, although a specific timeline for release has yet to be announced. The investment in Zero Motorcycles, amounting to approximately USD 60 million, facilitates this collaboration which focuses on high-performance electric bikes intended for the mid-weight segment. Amidst this development, Hero MotoCorp is also broadening its electric scooter offerings across various price ranges, aiming to cover most customer segments within the next six months. The company’s current line-up of VIDA electric scooters is priced between INR 1 to 1.5 lakh, benefiting from state subsidies and is actively sold in over 230 cities across India.
The partnership between Hero MotoCorp and Zero Motorcycles represents a strategic move towards entering the rapidly evolving electric vehicle market, particularly focusing on electric motorcycles, which are gaining popularity due to growing environmental concerns and technological advancements. Hero MotoCorp’s significant financial investment in Zero Motorcycles underscores its commitment to establishing a strong presence in the electric bike sector. Furthermore, the expansion of their electric scooter portfolio reflects the company’s intention to cater to diverse consumer demands in this burgeoning market.
In summary, Hero MotoCorp is advancing towards the development of a mid-sized performance electric motorcycle in collaboration with Zero Motorcycles, with the project currently in its advanced stages. As the company also aims to expand its electric scooter range to meet various market needs, it expresses optimism regarding growth prospects within the overall economy and its overseas operations. With a continued focus on strategic partnerships and expansive product offerings, Hero MotoCorp is well-positioned to capitalize on the increasing demand for electric vehicles.
Original Source: www.business-standard.com
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