India's largest two-wheeler brand Hero MotoCorp is aiming beyond the conventional two-wheeler segment. The homegrown auto company on Monday has said that it is focusing on electric mobility products. It is not only aiming to grab a chunk of the electric personal mobility space.
(Also Read: Hero MotoCorp sells 1 million units in Q1 of FY22, 4.6 lakh units in June alone)
Pawan Munjal, chairman and CEO of Hero Motocorp, said in the company’s annual report for 2020-21 that the brand plans to achieve the next 100 million units sales within this decade. He also said that the company's 200 millionth vehicle may not be a two-wheeler.
This clearly indicates the automaker is focusing on other segments beyond motorcycles and scooters. Talking about electric vehicles, Munjal said the company is working on multiple electric vehicle programmes and platforms. Besides personal mobility, Hero MotoCorp is claimed to be working on modular mobility solutions as well.
The modular mobility solutions include battery as a service, vehicle as a service offering. Also, the company is working on EV charging infrastructure as well. Overall, the mass-market two-wheeler major is aiming for a sustainable mobility business for a longer period.
Hero joined hands with battery-swapping solution provider Gogoro Inc a few months back. This partnership would be a key to the propagation of EV charging technology and network for the homegrown company, claimed Pawan Munjal. Interestingly, the company currently holds a 38% stake in electric two-wheeler manufacturer Ather Energy.
Hero MotoCorp's ambition about the premium two-wheeler segment is not new. The company has been aiming to enter the segment for quite a long time. Its partnership with Harley Davidson is the result of that ambition. Now, the company is also aiming to bring premium two-wheelers in the country backed by the expertise of Harley. Besides the Indian market, these premium motorcycles and scooters will be sold in other markets such as Bangladesh, Nepal, Latin America and Africa as well, as Munjal gave hint.