Hero MotoCorp to launch its first EV in March, plans a range of premium products
Hero MotoCorp is ready to roll out its first-ever electric two-wheeler in March 2022, said Niranjan Gupta, CFO of the company. The two-wheeler giant also plans to launch a wide range of premium products, said the official. The automaker will roll out its electric vehicles from the Chitoor manufacturing facility in Andhra Pradesh.
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India's largest two-wheeler manufacturer Hero MotoCorp has been working on its ambitious first-ever electric vehicle project for quite some time. The company has already teased the upcoming electric scooter last year, which would compete with rivals such as TVS iQube, Bajaj Chetak, Ola S1 among others.
On the company's electric vehicle rollout plans, Gupta said that Hero MotoCorp would eventually cover all segments whether it is premium, mid or mass category as its objective is to enable electrification for everyone or not just for an exclusive set of people or exclusive set of geographies.
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"That is the endeavour that we will have to actually straddle across the segments and accordingly obviously saddle across the geographies as well. Now what pace, what speed, what scale-up that is something that we will share closer to the time," he said.
Speaking about the company's strategy, Gupta said that Hero MotoCorp will continue its investment in Ather Energy and Gogoro, the two companies where it has already invested significantly. "Apart from that we are forging collaboration and partnerships with many players in the ecosystem and therefore we are addressing EV as more of an ecosystem rather than a product or a stream of revenue," he further added.
Besides working on the electric scooter, Hero MotoCorp has also joined hands with Bharat Petroleum Corporation Ltd (BPCL) to set up EV charging infrastructure across the country. This EV charging infrastructure will support the charging of electric two-wheelers.
Apart from the electric vehicles, Hero MotoCorp will also focus on launching more and more products in the premium portfolio, said Gupta. This will eventually boost the market share of the two-wheeler maker in the segment.
