Hero MotoCorp plans to go beyond 2Ws with focus on electric and modular mobility solutions

Hero MotoCorp plans to go beyond 2Ws with focus on electric and modular mobility solutions

New Delhi: The country’s largest two-wheeler maker Hero MotoCorp said on Monday that it is looking beyond the traditional mobility space and is already making investments in electric mobility products, both personal and mass transit.

The company also aims to strengthen its focus on the premium motorcycles and scooters segment in Bangladesh, Nepal, Latin America and Africa.

Pawan Munjal, chairman and chief executive officer, Hero Motocorp, said in the company’s Annual report for 2020-21, “We have already declared our next ambitious goal – we will achieve the target of the next 100 million within this decade. In keeping with our vision – ‘Be The Future of Mobility’, our 200 millionth vehicle may not be a two-wheeler!”

“The future will have to be imagined today, so it can be delivered tomorrow. As I have often said, we are aggressively working towards multiple electric vehicle (EV) programmes and platforms and also on various other modular mobility solutions. Sustainability remains critical to our ethos and we will continue to work in line with these principles,” he added.

The two-wheeler maker is working on exploring new business models with battery as a service, vehicle as a service, and identifying new revenue streams for charging infrastructure.

Munjal also said that the company’s partnership with Gogoro Inc, which was announced earlier this year, is of global significance. Gogoro Inc is a Taiwanese EV company with the world’s largest battery-swapping network.

“This partnership will be a key to the propagation of electric vehicle charging technology and network. I would like to share that our relationship with Ather Energy in which we have 38% stake is actively evolving into a partnership on multiple fronts. This clearly is going to pave our way into being a market leader in the EV space,” he said.

The automaker crossed the 100 million cumulative production mark in January this year and highlighted that its focus on global business is very clear. “Hero MotoCorp continues to invest in the development of new products for our international markets and we are determined to expand our global footprint,” the annual report said.

About the partnership with Harley Davidson, the company noted, “This partnership is an important stepping stone in the road to ‘Premiumisation’ of our brand and product. From building premium retail experience outlets to premium ownership models, Hero MotoCorp is enhancing capabilities and preparing itself to expand its presence in the premium two-wheeler segment. Hero MotoCorp is also in the process of developing a range of premium products, both under Harley and Hero MotoCorp brand names.”

Hero MotoCorp sold a total of 5,791,539 two-wheelers in the 2020-21 fiscal amid COVID-19 disruptions.

News source- Economic Times

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