Hero will likely introduce its first all-electric performance motorcycle within the next two to three years and it could cost around Rs. 4 lakh
Hero MotoCorp unveiled a host of concepts yesterday at the Hero World event while the Mavrick 440 based on the Harley-Davidson X440 and Xtreme 125R made their world premiere. The largest two-wheeler manufacturer in the world is developing several new motorcycles and scooters for the betterment of its future and is concentrating on its zero-emission lineup as well.
The company will likely introduce its first all-electric motorcycle, positioned in the premium range within the next two to three years. It could cost around Rs. 4 lakh. The second half of this decade will witness the arrival of brand new eco-friendly motorcycles from mainstream brands including Royal Enfield and Bajaj, and Hero will certainly be at the party too.
However, the electric scooter space is racking up volume sales and new entrants like Ola Electric and Ather Energy are taking advantage of it. Hero already has a presence in its space with the dedicated EV sub-brand Vida and its first offering, the V1, has been well-received by buyers. Its portfolio will be expanded big time along with its reach across the country.
In the next fiscal, the Vida range will see the inclusion of two new electric scooters while an all-new business to business based scooter is also in the pipeline for 2024-25. One of which will be an affordable e-scooter and the other will be positioned in the middle of the pack. The third one will concentrate on adhering to the last-mile connectivity needs.
In recent times, Vida has widened its footprint and is currently available in more than 100 cities across India and by next year, it will be doubled. In the July to September 2023 period, the volume numbers of the Vida V1 series stood at more than 2,000 units every month. Bajaj has confirmed that its first e-motorcycle will be equivalent to a 450 cc offering.
It will be slotted in the performance space only and could be influenced by Hero’s partnership with US-based Zero Motorcycles. The brand has already invested around Rs. 500 crore.