Hero MotoCorp to Launch Affordable Two-Wheeler EVs by FY25
Hero MotoCorp, India’s largest two-wheeler manufacturer, has announced ambitious plans to expand its electric vehicle (EV) lineup. By FY25, the company aims to introduce a range of affordable two-wheeler EVs to cater to a broader customer base. This strategic move is part of Hero’s effort to strengthen its position in the rapidly growing electric mobility market.
Currently, Hero MotoCorp offers two electric scooters under the VIDA brand, priced between INR 1 lakh and INR 1.5 lakh. The company plans to launch new models targeting the mid and mass-market segments, which will significantly broaden their market reach. This initiative is expected to drive substantial growth in both the current and next fiscal years.
In addition to expanding its product portfolio, Hero MotoCorp is enhancing its production capabilities. The company is ramping up production to meet the increasing demand, aiming to produce 10,000 units per month by the end of this fiscal year. This includes the upcoming Xoom 125 and Xoom 160 scooters, which are set to debut in the first half of the year.
Moreover, Hero MotoCorp has entered a partnership with Ather Energy to develop an interoperable charging network. This collaboration will provide over 2,000 charging points across 200 cities, significantly improving the accessibility and convenience of EV charging for customers.
The company is also planning to extend the VIDA brand’s presence to European and UK markets in FY25, marking its foray into international markets. This geographical expansion is poised to enhance Hero’s global footprint and capitalize on the growing demand for electric vehicles worldwide.