Hero MotoCorp to increase speed in EV after dominating the motorcycle market

Hero MotoCorp, one of the country’s largest two-wheeler companies, plans to increase its range of Electric Vehicles (EV) in the next 18-24 months. Last year, the company launched its first electric scooter Vida V1 in two variants. The company plans to launch electric two-wheelers in various price segments.

Swadesh Srivastava, Head (Emerging Mobility Business Unit), Hero MotoCorp, said in an analyst call that the company has increased its plans for EVs. Under this, new electric two-wheelers will be launched in various segments. The company plans to launch electric scooters as well as motorcycles. company Can launch these vehicles from the beginning of the next financial year. Hero MotoCorp has started selling the Vida V1 electric scooter in Delhi, Jaipur and Bengaluru. It will soon be made available in other cities of the country as well.

Sales of electric two-wheelers have increased in the last few years. However, Hero MotoCorp has delayed its entry into this segment, which has benefited startups like Ather Energy and Ola Electric. E-scooters and e-bikes account for about two per cent of the total two-wheeler sales in the country. It is planned to increase it to about 80 percent by 2030. Vida Plus is the first scooter in this segment of Hero MotoCorp. Price 1,45,000 is approximately Rs. Its minimum range in single charge will be 143 km. Its price is costlier than most of the electric scooters sold in the country.

Sales of electric two-wheelers are picking up and a major reason for this is rising petrol prices. However, due to some incidents of electric scooters catching fire, there have been apprehensions about the safety. This may affect the sales of e-scooters. Hero Moto had invested in a few electric vehicle startups before launching its first model in the segment. In September last year, the company announced an investment of $60 million to jointly develop electric motorcycles with America’s Zero Motorcycles. About two years ago, it entered into a venture with Taiwan’s Gogoro for battery sharing infrastructure.