JAIPUR: Hero MotoCorp is planning big for zero-emission two-wheeler segment as TVS and newcomer Ola expand aggressively in electrics. It is looking at motorcycles priced upwards of Rs 4 lakh, in tie-up with California-based Zero Motorcycles, while beefing up green portfolio in entry scooter category under the Vida brand.
Niranjan Gupta, CEO of the country’s biggest two-wheeler maker, said while Hero focuses on a premiumisation strategy in its core petrol vehicle business, it is investing aggressively in electrics. “The game in electrics has just started,” Gupta said at ‘Hero World 2024’ event here.
On Tuesday, Hero Moto launched a 125cc motorcycle Xtreme 125R, priced upwards of Rs 95,000. It unveiled a twin of Harley X440 that it builds and sells in India in partnership with the iconic US bikemaker. The company also unveiled the Mavrick440 roadster, which broadens its portfolio of premiums that includes Karizma.
Gupta said electrics will take time to build up scale even as companies are putting in new investments. “The journey here is like a marathon and not a 100-metre sprint,” he said, adding that strengthening of charging infrastructure, expansion of retail network and launch of new products, will gradually give numbers to greens.
“The benefit with EVs is that we not only sell them in India, but also target global markets with them.”
The company sells the Vida electric scooter priced at Rs 1.2 lakh (ex-showroom), and Gupta said it will now launch more affordable versions of the product.
“We will launch a mid-priced and also an economically-priced affordable version of Vida. We are looking at a B2B commercial version, which is aimed at the last mile. We feel that it is a promising and large segment.”
On Zero, he said it will be a premium product and will be performance oriented, targeted at those buying 400cc-plus petrol motorcycles. “We are working on it and expect the motorcycle to be priced at around Rs 4-5 lakh.”
Speaking about the broader two-wheeler market which had been under pressure for the past few years due to tough conditions for entry-level buyers, Gupta said that the environment is now getting better for demand. “First of all, the category is not fully penetrated and there is a big potential there. Also, we now see green shoots coming up in the segment as the consumer confidence index strengthens. The government’s capex program is also resulting in boosting income and employment. The informal sector is going up.”
Niranjan Gupta, CEO of the country’s biggest two-wheeler maker, said while Hero focuses on a premiumisation strategy in its core petrol vehicle business, it is investing aggressively in electrics. “The game in electrics has just started,” Gupta said at ‘Hero World 2024’ event here.
On Tuesday, Hero Moto launched a 125cc motorcycle Xtreme 125R, priced upwards of Rs 95,000. It unveiled a twin of Harley X440 that it builds and sells in India in partnership with the iconic US bikemaker. The company also unveiled the Mavrick440 roadster, which broadens its portfolio of premiums that includes Karizma.
Gupta said electrics will take time to build up scale even as companies are putting in new investments. “The journey here is like a marathon and not a 100-metre sprint,” he said, adding that strengthening of charging infrastructure, expansion of retail network and launch of new products, will gradually give numbers to greens.
“The benefit with EVs is that we not only sell them in India, but also target global markets with them.”
The company sells the Vida electric scooter priced at Rs 1.2 lakh (ex-showroom), and Gupta said it will now launch more affordable versions of the product.
“We will launch a mid-priced and also an economically-priced affordable version of Vida. We are looking at a B2B commercial version, which is aimed at the last mile. We feel that it is a promising and large segment.”
On Zero, he said it will be a premium product and will be performance oriented, targeted at those buying 400cc-plus petrol motorcycles. “We are working on it and expect the motorcycle to be priced at around Rs 4-5 lakh.”
Speaking about the broader two-wheeler market which had been under pressure for the past few years due to tough conditions for entry-level buyers, Gupta said that the environment is now getting better for demand. “First of all, the category is not fully penetrated and there is a big potential there. Also, we now see green shoots coming up in the segment as the consumer confidence index strengthens. The government’s capex program is also resulting in boosting income and employment. The informal sector is going up.”