India’s leading two-wheeler brand Hero MotoCorp Ltd has indicated that it has worked out a three-pronged strategy to make its presence felt in the electric mobility segment.
“This year will see Hero MotoCorp claim its position in the exciting clean mobility space in a bold avatar. Hero MotoCorp will transform its leadership in the internal combustion engine (ICE) market into the electric vehicle (EV) space – globally!” Pawan Munjal Chairman & CEO, Hero MotoCorp, said in the company’s annual report for 2021-22.
The ₹29,802-crore company has a clear plan for developing an expansive bouquet of electric mobility solutions and services. Its three-pronged approach for electric vehicles includes, first and foremost, building a portfolio through internal projects at its R&D hub, secondly through Hero Hatch, its internal incubation centre, and thirdly through the company’s collaborations with external entities.
All its initiatives for emerging mobility solutions will be introduced under the brand Vida – powered by Hero, starting with an electric product.
The company’s first in-house electric two-wheeler will be launched in the first half of this fiscal. The production of the Vida models will be done at its ‘Green’ manufacturing facility in Chittoor, Andhra Pradesh. The electric vehicle will be sold in India and global markets, including Europe and Latin America.
The company plans to develop and build a line-up of EV products, to offer mobility solutions to a diverse customer base around the globe. It will stay invested in capability building, both in-house and through partnerships with global players, to capitalise on their unique strengths.
“We continue to leverage our partnerships to strengthen our capabilities. With our partnership with Gogoro Inc. of Taiwan, we will bring the largest battery-swapping network to India. We are also in discussions with Bharat Petroleum Corporation Ltd to set up battery charging infrastructure for EVs across the country. With the investment in Ather Energy, starting from 2016, Hero MotoCorp is also accelerating its electric journey and bringing sustainable mobility solutions that deliver value to our stakeholders,” said Munjal.
Hero has built a Centre of Innovation and Technology (CIT) in Jaipur, India and the Tech Centre Germany (TCG) near Munich. Global automotive experts and engineers from around the world are constantly engaged at the R&D centres for the design and development of future mobility solutions. The company has invested ₹616 crore in building the two R&D facilities, which together employ about 1,150 engineers.