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Hero MotoCorp is in an advanced stage of developing a medium-sized performance segment electric motorcycle with its American partner Zero Motorcycles. A top company official gave this information. California-based company Zero Motorcycles specializes in electric motorcycles and powertrains. In September 2022, the board of directors of Hero MotoCorp approved an equity investment of up to US$60 million in the company. In the year 2023, the companies announced a collaboration for the development of premium electric bikes.
Developing with Zero Motorcycles
“As far as the EV motorcycle is concerned, we are developing it in partnership with Zero Motorcycles. It (the bike) will come in the middleweight segment,” Hero MotoCorp Chief Executive Officer (CEO) Niranjan Gupta said in an analyst call. “It is in an advanced stage. We have not announced the timeline for it yet, but we are looking at something that will not be too far away,” he added. Gupta said the bike will come in the performance segment. The company is also expanding its electric scooter range in several value segments in the current calendar year.
vida electric scooter
He said, “As far as electric scooters are concerned, within six months we will complete it in most value segments and customer segments.” Hero MotoCorp’s current Vida electric scooter series is currently priced between Rs 1 lakh and Rs 1.5 lakh, including government subsidy. The company sells the Vida series in more than 230 cities and towns across the country. These include more than 400 sales touchpoints. Hero MotoCorp expects its electric products to come under compliance with the production-linked incentive (PLI) scheme by FY 2025-26. On the overall business scenario, Gupta said, “I think the economy is in a more positive zone than before and we are very optimistic about the scenario of the economy in general and the automobile sector in particular. So overall, I would say that the festive fervor will continue even after the festive season.”
