Hero MotoCorp to Broaden Electric Two-Wheeler Lineup, Targeting Mid and Mass Segments


5/20/20241 min read

Hero MotoCorp is set to expand its electric two-wheeler lineup to attract a wider customer base. The company, India's largest two-wheeler manufacturer, currently offers two electric scooters under the Vida brand, priced between Rs 1 lakh and Rs 1.5 lakh. According to Swadesh Srivastava, Chief Business Officer of Hero MotoCorp's Emerging Mobility BU, new models will be introduced in the first half of this fiscal year, targeting the mid and mass segments.

Srivastava highlighted that the expanded portfolio will enable the company to compete in the premium, mid, and mass segments, anticipating significant growth this year and the next. He also mentioned efforts to improve cost structures and achieve steep growth based on product and geographical expansion.

Hero MotoCorp has already expanded Vida’s presence to over 120 cities with more than 180 touchpoints in India. The company has also partnered with Ather Energy to provide an interoperable charging network, offering over 2,000 charging points across 200 cities.

Looking to strengthen its global footprint, Vida is expected to debut in European and UK markets in FY25. CEO Niranjan Gupta confirmed that the company's capital expenditure guidance remains between Rs 1,000 crore and Rs 1,500 crore for the current fiscal year. He also announced upcoming launches, including the Xoom 125 and Xoom 160 scooters, set for the first half of the year, and additional entries into the premium segment. Gupta expressed confidence in the company’s potential for accelerated growth in FY25 and beyond.