Hero MotoCorp plans to introduce budget-friendly electric scooters by the end of this fiscal year. The company aims to dominate the EV market by offering both affordable and premium two-wheelers. Niranjan Gupta, CEO of Hero MotoCorp, has detailed strategies to enhance the current VIDA V1 Pro and expand their lineup of EVs.
The company launched the Vida electric scooter lineup in October 2022, priced between ₹1 lakh and ₹1.5 lakh, to attract a broader customer base. Moreover, Hero collaborated with Ather Energy to develop India’s largest public charging infrastructure for two-wheelers. The aim was to encourage the adoption of electric scooters in the country.
And now, the automaker intends to launch the VIDA electric scooter in international markets, leveraging its success in India. Furthermore, the collaboration with Zero Motorcycle will help in creating electric motorcycle models aimed at a specific customer segment. Thus, this will broaden the overall market size of the company.
Hero MotoCorp Executive Chairman Pawan Munjal said:
I am particularly pleased to witness VIDA V1’s rise as one of the leading electric scooters in India. I anticipate its future launch in global markets, where it is poised to become a significant player as well.
About the Upcoming Hero Electric Scooter
As of now, details about the upcoming EV variant are limited. However, the company will likely release a more affordable version of the Vida V1 Plus.
The current Vida V1 Plus features a 3.44kWh battery pack. In order to reduce the cost, Hero will install a smaller battery pack, which is a significant cost contributor. Moreover, the automaker will remove some features to enhance affordability. However, exact specifications will only be confirmed upon the launch of the production model.
The Ola S1 X is the least expensive e-scooter among major EV brands, with the Bajaj Chetak and TVS iQube following closely behind. However, with the launch of the new Vida variant, the company aims to attract a larger customer base.
The Scale of Hero MotoCorp Operations
The VIDA electric scooter is now available in over 100 cities across India. This reflects continuous innovations at the company’s R&D facilities in CIT Jaipur and Tech Center Germany.
Hero MotoCorp operates on a large scale, serving 116 million customers through a network of over 7,500 retail outlets and a supply chain capable of handling 10 million units. The Indian automaker operates in around 50 global markets and has a workforce exceeding 25,000 employees.
Gupta stressed the importance of fast and efficient product development and rapid responses to market needs. The company will implement decentralized decision-making to speed up product introductions and adjust to changing customer preferences.
