Hero MotoCorp is planning to launch new affordable electric vehicles in the Indian market this fiscal year. The two-wheeler giant currently holds a leading position in the ICE-powered (internal combustion engine) two-wheeler market. However, the company is now looking to expand its electric vehicle portfolio in India. The CEO of Hero MotoCorp, Niranjan Gupta, confirmed that the brand will be rolling out more affordable models in the country. The brand already retails the Vida V1 Pro e-scooter range in the Indian market.
The two-wheeler giant is aiming to make its mark in the EV segment. Hero will create a robust electric vehicle lineup to become a leader in India’s rapidly growing EV segment. Hero MotoCorp CEO Niranjan Gupta said, "We want to build leadership in EV, and in order to do that, we will be creating a very powerful EV product portfolio, augmenting the Vida V1 Pro that we have today."
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Additionally, the company has already developed strategies to expand its EV business rapidly. Apart from launching new EVs in the domestic market, Hero is also planning to launch its two-wheeler range in international markets. As of now, the brand has not shared many details regarding this new variant. However, Hero is expected to launch a much more affordable trim of the Vida V1 Plus. Hero assembled the famous Vida electric scooter a few years ago. In the Indian market, the Vida V1 electric scooter lineup is priced between INR 1 and INR 1.5 lakh (ex-showroom).
The Hero Vida V1 Plus comes equipped with a 3.44 kWh battery set. To make it more accessible, the brand will offer the upcoming variant with a smaller battery set. The scooter will also miss out on a few features. Notably, the Ola S1 X is currently the most affordable electric scooter in the country. The new Vida variant is likely to help the brand reach more EV customers.