Hero MotoCorp planning to launch electric two wheelers in mid and affordable segment

Two wheeler maker Hero MotoCorp is planning to launch several electric vehicles in coming year.

“The coming year will see us taking big strides in EV through product launches in the mid and affordable segment. Overall, we see a very positive outlook for the coming years,” said Niranjan Gupta, CEO, Hero MotoCorp

He said the company is quite optimistic about the growth of the overall two wheeler industry.


Currently, the company is only selling one electric scooter named Vida, which was launched in October 2022.

The Indian EV market is dominated by Ola Electric, TVS Motor, Bajaj Auto, and Ather Energy.

Hero on May 8 announced its Q4 results in which it reported bigger-than-expected rise in fourth-quarter profit.

The company's standalone profit rose 18.3% year-on-year to 10.16 billion rupees ($121.7 million) in the quarter ended March 31 against analysts' average estimate of 10.06 billion rupees, per LSEG data.

Hero MotoCorp said it is looking to grow international sales in its key export market of Latin America, adding that it plans to set up a unit in Brazil that will be involved in manufacturing and distributing two-wheeler vehicles, parts, and accessories.

Hero's plans to enter the Brazilian market were first reported in 2014, but the plans were delayed as the country's government mandated the use of a gasoline-ethanol blend for fuel.

Hero has six manufacturing plants in India, and one each in Colombia and Bangladesh. Rival Bajaj Auto, which beat fourth-quarter profit estimates, has also been planning to set up its own manufacturing plant in Brazil, according to media reports from last year.