The country's leading two-wheeler maker Hero MotoCorp sets plan to launch an electric model next year. The entry of new model into the segment will make a mark in the market, as per the senior company official.
The company has tied up with Taiwan-based Gogoro Inc. to bring the latter's battery swapping platform to India, utilising its Jaipur and Stephanskirchen based R&D set-ups to develop its own products. The partners have also decided to collaborate on electric vehicle development. Hero Motocorp sold 58 lakh units of motorcycles and scooters in 2020-21 fiscal. The company CFO Niranjan Gupta said "We are trying to launch one of the EV products in fiscal year 2022. All of those actions you will see in the next calendar year," in an analyst call. The two-wheeler maker has already invested in Bengaluru-based EV startup Ather Energy, which in past has introduced models in the market. The tie-up with the Taiwan-based firm could also help the company to strengthen its own product development programme.
Gupta in his statement said that the pandemic has had no impact on the company's product roll-out plans. He specifically noted, "In terms of new products, the company is not delaying launches. As of now, all our launch pipeline plans, which are there for the next three to five years, remain exactly where they were.”
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