Hero MotoCorp working to launch retro-style Harley-Davidson model
Hero MotoCorp is working to launch a Harley-Davidson model with retro styling as the company is gearing up to enter the segment of premium motorcycles, said a senior company official, PTI reported. Hero and Harley-Davidson went into an alliance in October last year after the US two-wheeler maker announced that it will discontinue sales and manufacturing operations in India, a decade after it started selling its products in the country.
Hero MotoCorp CFO Niranjan Gupta explained that the strategies that constitute the alliance. “There are two legs to the Harley tie-up strategy. One of course is that we are the sales distributors for Harley bikes in India. We have 14 dealers, around 30 touchpoints, and that is going well. The second part of the strategy is to launch a bike in that retro segment, which is almost one-third of the overall premium segment out of the profit pool," he was quoted in the report.
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Gupta also shared the company intends to launch a product in the premium segment and since Harley is an iconic brand, it is working towards it in the full swing. “I dare say that the segment probably has around 60 to 70 per cent of the profit pool of the premium segment, so that is the second leg of the strategy," he added.
According to the licensing pact, Hero MotoCorp has taken over the exclusive distribution rights of the Harley-Davidson motorcycle, parts and merchandise in India after the latter pulled out of the Indian market. Earlier this year, Hero MotoCorp initiated the booking process for 13 Harley-Davidson models, which are priced between ₹10 lakh and ₹35 lakh (ex-showroom). Around 100 Harley-Davidson bikes, constituting the first batch assigned to the Indian market this year, have been completely pre-booked.
Gupta also conveyed that Hero MotoCorp's first EV product will be rolled out by March next year.
(With inputs from PTI)