Hero MotoCorp US Partner Developing Mid-Sized Electric Bike

New Delhi: Hero MotoCorp and its US-based partner Zero Motorcycles are in the advanced stage of developing a mid-sized performance segment electric motorcycle, according to a top company executive. California-based Zero Motorcycles specialises in electric motorcycles and power-trains. In September 2022, Hero MotoCorp’s board approved an equity investment of up to USD 60 million in the company.

In 2023 the companies announced collaboration for the development of premium electric bikes. “As far as EV motorcycles ... we are developing in partnership with Zero Motorcycles..it (bike) will be coming in the middle-weight segment,” Hero MotoCorp CEO Niranjan Gupta said in an analyst call.

He further said: “I would say it’s in the advanced stage. We haven’t announced the timeline as yet, but we would be looking at something which would not be too far off.” The bike will come in the performance segment, Gupta stated. The company is also expanding its electric scooter range covering multiple price segments of this calendar year. “So basically, within six months, we would have covered most of the price and the customer segment as far as EV scooters are concerned,” Gupta stated.

Hero MotoCorp’s current VIDA electric scooter range is currently priced between Rs 1-1.5 lakh, including state subsidies. The company sells the VIDA range in over 230 cities and towns in the country, with over 400 sales touchpoints. Hero MotoCorp is also hopeful that its electric products will be compliant with the PLI scheme in FY26. On the overall business outlook, Gupta stated: “The economy, I think, is on a more positive trajectory than earlier, clearly, and we are very optimistic about the outlook of the economy in general and the auto sector, in particular.