Hero MotoCorp to Launch 3 Electric Two-Wheelers by 2024

Jaipur, Jan 23 (PTI) With an aim to accelerate its electrification journey, Hero MotoCorp plans to bring three new electric two-wheelers in the next one year, company CEO Niranjan Gupta said on Tuesday.

The company, which unveiled its new performance bike MAVRICK 440, is also ramping up production to 10,000 units a month to meet demand for motorcycles in the segment.

"In FY25, we will launch electric scooters in the mid-price segment and in the economy segment to extend our Vida range," Gupta said in an interaction on the sidelines of the Hero World 2024 event here.

Further, he said, "We will be launching another electric two-wheeler in the B2B last mile delivery segment, which is a big segment," he added.

On the possibility of launching electric bikes through the company's tie up with California-based Zero Motorcycles, he said it will take some time as the market is still developing in India and is still costly.

However, he said the technology from the partnership will be used to develop electric motorcycles in the mass segment products in future.

In order to scale up EV sales, Gupta said the company has increased availability of Vida to 100 cities as of last week and will enter 100 more cities in the next one year.

Hero MotoCorp will also set up Vida exclusive small stores, he added.

On the newly unveiled MAVRICK 440, he said the company is also looking to enhance its position in the premium segment where it also sells Harley Davidson's HD440X.

Gupta said the company has been ramping up production, which has touched 6,000 units a month. Going forward, it will reach 10,000 units a month by March this year.

HD440X had clocked up orders of 25,000 units initially and has added another 5,000 units to the order book, he added.

The MAVRICK 440 entered the premium segment, currently dominated by Royal Enfield.