Eyeing leadership in the electric two-wheeler segment, Hero MotoCorp is looking to roll out affordable models in the current fiscal, according to CEO Niranjan Gupta. The country\u2019s largest two-wheeler maker is also hopeful of the debut of its electric range in the international markets, reports Business Standard.
Addressing shareholders in the company\u2019s Annual Report for 2023-24, Gupta said the two-wheeler major has a roadmap to scale its electric vehicle business rapidly.<\/p>\n\n\n\n
\u201cWe 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,\u201d he noted.
The company will be launching products in the mid-and affordable segments this fiscal, Gupta said. Hero MotoCorp\u2019s VIDA electric scooter range is priced between Rs 1-1.5 lakh, including state subsidies.
Hero MotoCorp Executive Chairman Pawan Munjal said together with Ather Energy, VIDA has established India\u2019s largest public-charging infrastructure for two-wheeler EVs.<\/p>\n\n\n\n
Additionally, the partnership with Zero Motorcycle will facilitate the development of new EV motorcycles targeted at a distinct customer segment, thereby expanding the overall market size, he added.
\u201cI am particularly pleased to witness VIDA V1\u2019s rise as one of the leading electric scooters in India, and I anticipate its future launch in global markets, where it is poised to become a significant player as well,\u201d Munjal noted.<\/p>\n\n\n\n
Hero MotoCorp has already expanded the presence of its EV scooter VIDA from three to over 100 cities.
\u201cThere is path-breaking innovation underway at our state-of-the-art R&D Centres at CIT Jaipur and Tech Centre Germany to create a winning portfolio in all segments,\u201d Gupta informed shareholders.
The company also plans to drive more premium products and scale up the international, accessories and merchandise businesses, he stated.<\/p>\n\n\n\n
Gupta noted that while the company has a huge scale in the domestic market, it has also embarked on a similar journey to scale up its global business with a single-minded focus on the top ten markets.
\u201cAdditionally, we are tapping into opportunities to scale up our accessories and merchandise business,\u201d Gupta stated.<\/p>\n\n\n\n
On premium products, he noted that last year the company launched a series of premium products, boosting the portfolio. \u201cWe will continue to launch more premium products in the coming years,\u201d he said, outlining the company\u2019s focus on speed, scale, synergy, and simplification.
\u201cOur premium portfolio across ICE and EV will grow exponentially, with a line-up that is committed to innovation,\u201d Gupta said.<\/p>\n\n\n\n
He noted that the company enjoys a significant scale advantage. With a customer base of 116 million, over 7,500 distribution points, a supply chain capacity of 10 million units, a presence in around 50 global markets, and a workforce of more than 25,000 employees, the two-wheeler major\u2019s scale is unparalleled, he said.<\/p>\n\n\n\n
\u201cLeveraging this scale is key to success in everything that we do. We are adopting this scale Mantra in every decision we make; our strategy is to put our might behind products and projects that can be scaled up faster,\u201d Gupta said.<\/p>\n\n\n\n
The company has accelerated product development and also upgraded the sales network, he said.
\u201cEmbracing speed is crucial as we navigate rapidly changing global and consumer trends. We are now focussing on further reducing the time our products take to roll out and enhance speed by decentralised decision-making to the point where the actions reside,\u201d Gupta said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Eyeing leadership in the electric two-wheeler segment, Hero MotoCorp is looking to roll out affordable models in the current fiscal, according to CEO Niranjan Gupta. The country\u2019s largest two-wheeler maker is also hopeful of the debut of its electric range in the international markets, reports Business Standard.Addressing shareholders in the company\u2019s Annual Report for 2023-24, […]<\/p>\n","protected":false},"author":1,"featured_media":434544,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[667],"tags":[],"class_list":["post-434539","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"_links":{"self":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/434539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/comments?post=434539"}],"version-history":[{"count":0,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/434539\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/media\/434544"}],"wp:attachment":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/media?parent=434539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/categories?post=434539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/tags?post=434539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}