Hero MotoCorp and Zero Motorcycles Collaboration
Hero MotoCorp is on track to launch a new mid-size performance electric bike in collaboration with its US partner, Zero Motorcycles. This partnership stems from a significant equity investment of up to $60 million approved in September 2022. CEO Niranjan Gupta confirmed that the bike is in advanced development stages, with a potential release not too far off.
Performance Segment Focus
Gupta emphasized that the upcoming bike will target the performance segment, showcasing Hero’s commitment to enhancing their electric vehicle portfolio. In addition to this, the company plans to expand its electric scooter range across various price segments this year.
VIDA Electric Scooter Range
Currently, Hero’s VIDA electric scooters are priced between Rs 1-1.5 lakh, benefiting from state subsidies. The VIDA range is available in over 230 cities, with more than 400 sales touchpoints nationwide. Hero MotoCorp aims to align its electric products with the Production Linked Incentive (PLI) scheme by FY26.
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Summary at glance
Hero MotoCorp is collaborating with its US partner, Zero Motorcycles, to develop a mid-size performance electric bike, currently in advanced stages. The partnership follows a $60 million equity investment approved in September 2022. Hero MotoCorp’s CEO, Niranjan Gupta, indicated the new bike will target the performance segment but did not specify a launch timeline. Additionally, the company is expanding its existing VIDA electric scooter range, priced between Rs 1-1.5 lakh.
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