Hero Motocorp Preparing to Increase its Electric Two-Wheeler Range, Focus on Premium Segment

Hero MotoCorp, one of the country’s largest two-wheeler companies, is preparing to increase the range of its electric two-wheeler. Along with this, the company will also upgrade its sales network. The company plans to launch new entry-level models in the electric two-wheeler segment to reach out to a larger number of customers.

The company’s new CEO, Niranjan Gupta said that Hero MotoCorp’s focus on the premium segment will be increased. The company has given priority to strengthen its position in the electric two-wheeler segment. Gupta said, “By the end of March next year, we will go to 100 cities. After that, products in the entry level and middle segment will be brought in the next four quarters.” they said that company has established the brand and there is a need to enhance the product range. Apart from strengthening its position in the electric two-wheeler segment, Hero MotoCorp plans to increase its share in the premium segment of motorcycles (160-450 cc). Gupta said that the company will launch some new premium products in the current year.

Last year, Hero MotoCorp launched its first electric scooter Vida V1 in two variants. of electric two-wheelers in the last few years sales Has increased. However, Hero MotoCorp has delayed its entry into the segment, which has benefited startups like Ather Energy and Ola Electric. Hero MotoCorp had invested in a few electric vehicle startups before launching its first model in the segment.

E-scooters and e-bikes account for a little over two per cent of the total two-wheeler sales in the country. Hero MotoCorp’s sales last month increased by seven percent to 5,19,474 units. It was 4,86,704 units in the same period last year. The company expects the sales growth to continue in the coming months on the back of normal monsoon forecast and new launches. It gets the bulk of its sales from rural areas. The company’s motorcycle sales stood at 4,89,336 units. It was 4,52,246 units in the same month last year. However, its scooters sales declined to 30,138 units as against 34,458 units in the same period last year. The company has sold 5,08,309 units in the country.

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