Hero MotoCorp, Zero Motorcycles in advanced stages of bike development
25 Nov 2024
2 Min Read
CW Team
Hero MotoCorp and its US-based partner Zero Motorcycles are in the advanced phase of developing a mid-sized electric motorcycle targeting the performance segment, according to Hero MotoCorp CEO Niranjan Gupta. California-based Zero Motorcycles, known for its electric bikes and powertrains, received an equity investment of up to $60 million from Hero MotoCorp in 2022.
In 2023, the companies announced their collaboration to create premium electric motorcycles. Gupta highlighted that while no launch timeline has been confirmed, the new bike is not far from being introduced to the market.
Hero MotoCorp is also focusing on expanding its electric scooter lineup across various price segments. The company鈥檚 VIDA electric scooter range, priced between Rs 100,000-150,000 (including state subsidies), is now available in over 230 cities through 400 touchpoints. Gupta expects the company's EV products to align with the government's PLI scheme by FY26.
On the international front, Hero MotoCorp reported growth in key markets like Colombia, which achieved cash and EBITDA positivity for the first time, and strong traction in Mexico. However, countries like Bangladesh, Turkey, and Nigeria require more focused efforts. Gupta stated that the company鈥檚 strategy of prioritising growth in its top ten markets while selectively entering new ones is beginning to yield positive results.
Gupta also expressed optimism about India鈥檚 economic trajectory and the auto sector, stating that the festive cheer in the market is likely to persist.
(ET)
Hero MotoCorp and its US-based partner Zero Motorcycles are in the advanced phase of developing a mid-sized electric motorcycle targeting the performance segment, according to Hero MotoCorp CEO Niranjan Gupta. California-based Zero Motorcycles, known for its electric bikes and powertrains, received an equity investment of up to $60 million from Hero MotoCorp in 2022.
In 2023, the companies announced their collaboration to create premium electric motorcycles. Gupta highlighted that while no launch timeline has been confirmed, the new bike is not far from being introduced to the market.
Hero MotoCorp is also focusing on expanding its electric scooter lineup across various price segments. The company鈥檚 VIDA electric scooter range, priced between Rs 100,000-150,000 (including state subsidies), is now available in over 230 cities through 400 touchpoints. Gupta expects the company's EV products to align with the government's PLI scheme by FY26.
On the international front, Hero MotoCorp reported growth in key markets like Colombia, which achieved cash and EBITDA positivity for the first time, and strong traction in Mexico. However, countries like Bangladesh, Turkey, and Nigeria require more focused efforts. Gupta stated that the company鈥檚 strategy of prioritising growth in its top ten markets while selectively entering new ones is beginning to yield positive results.
Gupta also expressed optimism about India鈥檚 economic trajectory and the auto sector, stating that the festive cheer in the market is likely to persist.
(ET)
Next Story
Blum India brings Design Reverie to Hyderabad
Blum India hosted the Hyderabad edition of its signature event, Design Reverie, at the historic Taj Falaknuma Palace, making it a memorable evening for the city鈥檚 architecture and interior design community. As per news reports, the event combined modern design sensibilities with the grandeur of a palace setting and the spiritual charm of Sufi qawwali.This marked the third edition of the event, after previous gatherings in Delhi and Bangalore. In Hyderabad, the focus was on fostering relaxed yet meaningful dialogue among design professionals鈥攁way from the typical conference setup. The eveni..
Next Story
Hafele launches Platinum Studio in Nagpur
Hafele has expanded its franchise footprint in central India by opening a new Studio Partner Platinum showroom in Nagpur in collaboration with Onkar Furnitech. The studio was inaugurated by Nitin Gadkari, Minister of Road Transport and Highways, along with Padma Gupta, Director 鈥� HR & Customer Experience, Hafele South Asia.Located at Sarthak Plaza, South Ambazari Road, Laxmi Nagar, the showroom offers an immersive experience of Hafele鈥檚 wide-ranging interior and home solutions. Designed as a hands-on, real-life application space, the studio showcases Hafele鈥檚 full portfolio鈥攊ncludi..
Next Story
Truflo by Hindware wins GPTW honour again
Truflo by Hindware has been certified a Great Place to Work for the fourth consecutive year, reaffirming its commitment to a people-first culture. The certification was awarded by the Great Place to Work Institute following a rigorous evaluation of employee experience, leadership, culture, and HR practices.Known as India鈥檚 fastest-growing plastic pipes and fittings company, Truflo has focused on fostering an inclusive, innovative, and growth-driven work environment. The company prioritises employee well-being and professional development, creating a culture where people feel valued and empow..
