Mumbai, July 22:Eyeing leadership in the electric two-wheeler segment, Hero MotoCorp is looking to roll out affordable models in the current fiscal, according to CEO Niranjan Gupta.The country’s largest two-wheeler maker is also hopeful of the debut of its electric range in the international markets.
Addressing shareholders in the company’s Annual Report for 2023-24, Gupta said the two-wheeler major has a roadmap to scale its electric vehicle business rapidly.
“We want to build leadership in EV, and in order to do that, we will be creating a very powerful EV product portfolio, augmenting the VIDA V1 Pro that we have today,” he noted.
The company will be launching products in the mid-and affordable segments this fiscal, Gupta said.
Hero MotoCorp’s VIDA electric scooter range is priced between Rs 1-1.5 lakh, including state subsidies.
Hero MotoCorp Executive Chairman Pawan Munjal said together with Ather Energy, VIDA has established India’s largest public-charging infrastructure for two-wheeler EVs.
Additionally, the partnership with Zero Motorcycle will facilitate the development of new EV motorcycles targeted at a distinct customer segment, thereby expanding the overall market size, he added.
“I am particularly pleased to witness VIDA V1’s rise as one of the leading electric scooters in India, and I anticipate its future launch in global markets, where it is poised to become a significant player as well,” Munjal noted.