Hero MotoCorp CEO reveals co's EV plan and why it is not worried about competition
India should look at how it can sell electric two-wheelers to the world, even as it develops a market for battery electric vehicles locally, Niranjan Gupta, chief executive officer of Hero MotoCorp, the country’s largest two-wheeler maker, said on Tuesday.
The company will introduce three electric two-wheelers in the mass market in FY25 to strengthen its portfolio, Gupta said on the sidelines of an event to unveil 'Hero Mavrick', the first Hero-badged premium motorcycle that has been developed with American motorcycle maker Harley Davidson.
Gupta said one of the upcoming electric scooters will target customers in the B2B segment, while the other two will be positioned in the mid and entry segments for buyers in the mass market.
“Over the next 12 months, we will launch a mid-price scooter and an economically priced scooter. So the Vida range will be aspirational, accessible and affordable,” he said.
Sales of electric two-wheelers in India increased by 36% to 859,000 units in CY2023.
Hero, a market leader in the petrol segment, trails Ola Electric, TVS Motor Company and Bajaj Auto in sales in the electric vehicle (EV) market.
However, Gupta is not worried about competition. He said that while Hero MotoCorp is putting in place building blocks by enhancing the range of products, upgrading its stores to sell electric two-wheelers and premium motorcycles, and forging a tieup with Ather Energy to establish a widespread charging infrastructure, more competition will only help foster innovation.
“In a marathon, seldom you will see that the winner of the marathon is ahead in the first 100m,” Gupta said.
“So honestly, EV is that race where we will do things right. So if you look at the entire story of the portfolio we are
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