Hero MotoCorp to launch more electric scooters by 2025
Hero MotoCorp has announced plans to bolster its presence in the electric two-wheeler market by introducing three new electric scooters within the next year. The company’s CEO, Niranjan Gupta, unveiled this strategy at the Hero World 2024 event, emphasising the goal of accelerating the company’s electrification journey.
Gupta revealed that in the fiscal year 2025, Hero MotoCorp aims to launch electric scooters in both the mid-price and economy segments, expanding its existing Vida range. Additionally, the company plans to target the B2B last mile delivery segment with the introduction of another electric two-wheeler, recognising the significance of this market.
Despite recent strides in the electric vehicle sector, Gupta indicated that the launch of electric bikes through Hero MotoCorp’s collaboration with California-based Zero Motorcycles may take some time. He attributed this delay to the evolving nature of the Indian EV market and the current cost challenges. However, he highlighted that the technology gleaned from this partnership would be instrumental in developing electric motorcycles for mass-market consumption in the future.
To meet the growing demand for motorcycles in the performance segment, Hero MotoCorp is ramping up production to 10,000 units per month. The company recently unveiled two new bikes, the Mavrick 440 and Xtreme 125R.
In a bid to expand its electric footprint, Hero MotoCorp is actively working to make its Vida electric scooters more accessible. Gupta shared that the company has extended the availability of Vida to 100 cities, with plans to enter an additional 100 cities within the next year. To enhance customer engagement, Hero MotoCorp will also establish exclusive small stores dedicated to its Vida electric range.
While he acknowledged the potential of electric bikes stemming from the partnership with Zero Motorcycles, he stressed the need for patience, suggesting that the market is still in the nascent stages of development. The company’s strategic approach appears focused on catering to a diverse range of consumers, from performance bike enthusiasts to those seeking practical electric options for daily commuting.