|Pawan Munjal Managing Director & CEO – Hero MotoCorp Ltd. [File Photo]|
In view of the increasing demand for electric vehicles, many Indian automobile companies are foraying into the electric vehicles segment and as the electric two-wheeler segment is also growing rapidly in the country. Hero Motocorp, India’s largest two wheeler manufacturer, is also now ready to launch its first electric two-wheeler in the market.
Hero Motocorp has been working on launching its electric vehicle for a long time. Last year in May, we reported that the company is planning to launch an electric two-wheeler by the first half of 2022. Now in the latest, the company’s CFO Niranjan Gupta has confirmed that the company’s first electric two-wheeler will be released in March 2022 Along with this, the company is also planning to launch a wide range of premium products in the coming time.
The company will roll out its electric vehicle from the Chittoor manufacturing facility in Andhra Pradesh. The electric 2 wheeler will compete with the existing e-players such as TVS iQube, Bajaj Chetak, Ola S1 in the Indian market. The electric two-wheelers will initially be sold first in India before sales expand overseas.
Besides, the company is also planning to launch a wide range of premium products in the coming time.
Speaking about the company’s strategy, Niranjan Gupta said that Hero MotoCorp will continue its investments in Ather Energy (India) and Gogoro (Taiwan), two EV startups in which the company has already invested heavily.
While Ather Energy is an electric scooter maker, Gogoro is a Taiwanese startup — backed by former US Vice President Al Gore — that develops a battery-swapping refueling platform for urban electric two-wheel scooters, mopeds and motorcycles. Hero MotoCorp and Gogoro will rollout battery swapping network in India.
Last May, Hero MotoCorp partnered with deeptech startup ADLOID to launch Augmented Reality based showroom offering immersive shopping experience. Hero MotoCorp will utilize the ADLOID platform to provide a 360-degree shopping experience to its customers with the help of Augmented Reality.