Hero-Zero electric motorcycle in advanced stage of development

Hero MotoCorp’s upcoming mid-segment electric motorcycle, which is being built in partnership with U.S.-based Zero Motorcycles, is in advanced stages of development, according to the company’s top executive.

“As far as EV motorcycles, as we have talked about, that we are developing in partnership with Zero Motorcycles. And that's something that while we have not given out the timeline, but the work is in progress. And it will be coming in the middle-weight segment. I would say it's in the advanced stage. We haven't announced the timeline as yet, but we would be looking at something which would not be too far off,” says Niranjan Gupta, chief executive officer, Hero MotoCorp, during the company’s second-quarter earnings call with analysts.

Hero MotoCorp’s Gupta says the company’s electric motorbike will also come in the performance motorcycle segment.

India’s electric two-wheeler market is dominated by scooters even as motorcycles account for around two-thirds of the overall two-wheeler sales. Legacy automakers have so far shied away from launching electric motorcycles. Rattan India-owned EV startup Revolt Motors is the only visible player in the tiny e-motorcycle market.

Hero MotoCorp currently sells only two electric scooters under the Vida brand. It plans to expand its portfolio to cover most price and customer segments within six months. Legacy rival players like TVS Motor and Bajaj Auto as well as Bhavish Aggarwal-led new-age EV company Ola Electric have already cornered a bigger share of the e-scooter market.

“On the scooter side, while we are selling the 2 models right now, you will see addition happening and expansion to other price segments happening by the—within—before the end of this year, calendar year. And within 6 months of that, you'll see even further expansion going into other user segments. So we'll have a very robust portfolio within 6 months,” says Swadesh Srivastava, chief business officer- Emerging Mobility, Hero MotoCorp.

On the ongoing festive season, Srivastava says it has been a great festive on the Vida front. “We clocked 11.6k units in retail. And we have gone to a market share of 5.4% overall. And each of the zones have fired up on this, and we see a very uniform growth happening across the country,” he says.

Hero MotoCorp witnessed double-digit growth in both rural and urban markets in total sales during the festive season.