Hero MotoCorp and its US-based partner Zero Motorcycles are in the advanced stages of developing a mid-size performance segment electric motorcycle, according to a top company official.
California-based Zero Motorcycles specializes in electric motorcycles and powertrains. In September 2022, Hero MotoCorp’s board approved equity investment of up to US$60 million in the company.
The companies announced a collaboration to develop premium electric bikes in 2023. “As far as EV motorcycles are concerned… we are developing in partnership with Zero Motorcycles.
“It (the bike) will fall in the middle-weight category,” Hero MotoCorp CEO Niranjan Gupta said in an analyst call. He added: “I would say it is in the advanced stage.
We haven’t announced the timeline yet, but we will be looking at something that won’t be too far off.” Gupta said, adding that the bike will fall in the performance segment. The company is also looking to expand its electric scooter range covering multiple price points. This is the section of the calendar year.
“So basically, within six months, we will have covered most of the price range and customer segment as far as EV scooters are concerned,” Gupta said.
Hero MotoCorp’s existing VIDA electric scooter range is currently priced between Rs 1-1.5 lakh, including state subsidies. The company sells the VIDA range in over 230 cities and towns in the country with over 400 sales touchpoints.
Hero MotoCorp also expects its electric products to be in line with the PLI scheme in FY26. On the overall business outlook, Gupta said: “I think the economy, clearly, is on a more positive trajectory than before, and we are very optimistic about the outlook for the economy in general and the auto sector in particular.
So overall, I would say that the festive enthusiasm will continue even after the festive season. Answering a question related to the company’s foreign business, he said that the two-wheeler company is seeing good attraction from markets like Colombia and Mexico.
“In fact, Colombia showed a turnaround in their first quarter bottom line. They are cash and EBITDA positive for the first time. And of course, we see trends from Mexico and some other countries as well,” Gupta said. Said.
He said that there are many countries like Bangladesh, Türkiye and Nigeria where there is more need for firing. “I think our disproportionate focus on developing the top ten countries and making selective entries into certain markets while nurturing the rest is starting to pay off,” Gupta said.
