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Hero MotoCorp’s First Electric 2-Wheeler To Launch In Jan-March 2022

Bajaj and TVS Motor Company, the homegrown two-wheeler makers have already entered into the electric space with Chetak and iQube electric scooters respectively. World’s largest two-wheeler maker in terms of volume, Hero MotoCorp will also enter into the electric two-wheeler space in 2022. Honda and Royal Enfield have also confirmed their plans to enter the electric vehicle segment.

Hero MotoCorp will launch an all-new electric two-wheeler in the first quarter of 2022, that’s January-March period. The company has recently joined hands with Taiwan’s Gogoro, which is known for making battery swapping network. Gogoro also sells electric two-wheeler in Taiwan.

Gogoro Electric Scooter

Speaking to analysts Niranjan Gupta, CFO, Hero MotoCorp, said, “FY21 we spent Rs 600 crore. FY22 we are not outlining any numbers as of now. As far as Quarter 1 is concerned all of us are going through a very different level of crisis and challenges and we will recalibrate our capex plans.”

Hero MotoCorp is reportedly working on its own line of fixed-battery electric models as well as swappable battery models with its Taiwanese partner Gogoro. It is yet to be confirmed whether Hero will introduce an electric scooter or an electric motorcycle in India.

Hero MotoCorp Plant Shutdown

Hero MotoCorp has announced to extend the shutdown of its manufacturing facilities till May 16, 2021, due to COVID-19 pandemic. The company first announced the shutdown between April 22 and May 1, which later extended till May 9. Not just manufacturing plans, Hero’s Global Parts Center in Neemrana, and the R&D facility – the Centre of Innovation and Technology (CIT) in Jaipur will also remain closed during this period.

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Hero MotoCorp’s First Electric 2-Wheeler To Launch In Jan-March 2022
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