Hero MotoCorp’s US partner is in the advanced stages of developing a mid-range electric bike

Hero MotoCorp and its US-based partner Zero Motorcycles are in the advanced stages of developing a mid-size electric motorcycle, according to a company executive.

California-based Zero Motorcycles specializes in electric motorcycles and powertrains. In September 2022, the Hero MotoCorp board approved an equity investment of up to USD 60 million in the company.

In 2023 the companies announced a collaboration to develop advanced electric bicycles. “In terms of EV motorcycles … We are developing in partnership with Zero Motorcycles.

This (bike) will come in the middleweight category,” said Hero MotoCorp CEO Niranjan Gupta in an analyst call. He added: “I would say it is at a high level.

We haven’t announced a timeline yet, but we’ll be looking at something that won’t be too far off.” The bike will come out of the performance stage, the Guptas said. parts of this calendar year.

“So, within six months, we would have covered most of the price and customer segment in terms of EV motorcycles,” Gupta said.

Hero MotoCorp’s current VIDA electric scooter range is priced between Rs 1-1.5 lakh, including government subsidy. The company sells the VIDA range in more than 230 cities and towns in the country, with more than 400 touch points.

Hero MotoCorp is hopeful that its electric products will be compatible with the PLI plan in FY26. Regarding the overall business outlook, the Guptas said: “The economy, I think is in better shape than it’s ever been, obviously, and we’re very optimistic about the overall economic situation and the auto sector, in particular.

So, I can say that the holiday cheer will continue even after the holiday season. Responding to a question related to the company’s overseas business, he said that the two-wheeler company sees good from markets such as Colombia and Mexico.

“In fact, Colombia delivered its first quarter of moderate changes. It’s cash and EBITDA is positive for the first time. And of course, we see influence from Mexico and other countries,” Gupta. said.

There are countries that need to deport more like Bangladesh, Turkey and Nigeria, he added. “I think that our disproportionate focus on growing the top ten countries while developing other countries and choosing to enter other markets is starting to play well,” said Gupta.