The company, which entered the electric segment with its Vida scooters in 2022, plans to take its game up a notch by offering models that rival ICE variants in pricing.
16 Jan 2025 | 7527 Views | By Ketan Thakkar and Kiran Murali
Hero MotoCorp, the country’s largest two-wheeler maker, has been on the fringes of the electric vehicle market. But the automaker is set to accelerate its mainstream zero-emission market play.
According to sources familiar with the company’s plans, the maker of Splendor and Passion has lined up half a dozen ...
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Hero MotoCorp, the country’s largest two-wheeler maker, has been on the fringes of the electric vehicle market. But the automaker is set to accelerate its mainstream zero-emission market play.
According to sources familiar with the company’s plans, the maker of Splendor and Passion has lined up half a dozen new models in the next 2-3 years, ranging in price from entry scooters to dirt bikes to high-performance electric motorcycles.
Sources say an electric variant of the popular Splendor motorcycle is one of the company's most significant projects. The product has been under development at its technology center, CIT, in Jaipur, for almost two years and is scheduled for launch in 2027.
People in the know say the Splendor project is named AEDA, and the company is eyeing a potential volume of close to two lakh units per annum for the model.
Meanwhile, the company is also working on various options for the scooter segment. The Vida portfolio was recently expanded with the addition of a more accessible Vida V2 (named ACPC internally) in the sub-Rs 1-lakh price point.
Autocar Professional learns that a project called ACPD is under development that should lower the price point further and bring it closer to ICE scooters in the market.
The company is currently producing about 7,000 electric vehicles a month. With the new ACPC, the Vida V2, and ACPD, the lower-cost version, Hero MotoCorp is looking at a combined volume of 13,000 to 15,000 units per month, with a plan to scale it up to 20,000 units per month by the festive season of 2025.
People in the know say there are even more expansive plans for electric motorcycles. Hero MotoCorp is looking to introduce the Lynx in 2026, a dirt-motorcycle EV with a modest annual volume of 10,000 units. The model may be aimed at global markets. However, the company will only look at bringing mainstream electric motorcycles in 2027 to address a wider range of buyers and price points.
The AEDA project is aimed at the commuter segment or daily business users. There are two more motorcycles - equivalent to 150 cc and 250 cc motorcycles - being planned under the project named ADZA, targeting youth who are seeking style and performance.
The company is eyeing cumulative volumes of over half a million units annually from electric vehicles by 2027-28. The range of motorcycles is likely to contribute over 2.5 lakh per annum, with scooters accounting for another 2.5-3 lakh units.
These are just Hero MotoCorp’s independent projects.
Hero MotoCorp is also working on a number of models with the US electric motorcycle maker Zero Motorcycles, which should also come on stream around 2026-27. These models are aimed at the premium price points in the 350cc and above equivalent segments.
Hero MotoCorp’s Vida brand currently has a market share in the range of mid-single digits. The company’s top management is pinning hopes on electric vehicles as a major growth driver going forward. The company is gradually scaling up its electric vehicle business across the country by expanding the products’ presence and improving the charging infrastructure in partnership with Ather Energy.
Last year, Hero MotoCorp revealed that it plans to launch over a dozen electric two-wheeler models without disclosing the exact segments, price points and timeline. A portfolio of six electric motorcycles under the Vida range and another four motorcycles under its alliance with Zero Motors starting from 2025-26 was planned.
Autocar Professional learns that the automaker is working to roll out two electric motorcycles equivalent to 500-600 cc models with Zero Motors in 2026-27. Sources said the company is looking at a monthly production volume in the range of 330 to 500 units. While speaking at the Hero World event in early 2024, Hero MotoCorp’s CEO Niranjan Gupta had said the automaker could showcase some high-end electric motorcycle concepts in 2026.
Though electrification in India is being driven by two-wheelers, the electric motorcycle segment is yet to see significant traction in India with limited offerings from a few startups such as Revolt and Ultraviolette. India's largest electric two-wheeler maker Ola Electric is working on a portfolio of four electric motorcycles and plans to launch its first electric motorcycle in the first half of the financial year 2026. Ather Energy is developing a new platform named Zenith to support new electric two-wheelers targeting the 125-300 cc motorcycle segments.
Among the major traditional OEMs, none of them have disclosed any exact timeline for launching their electric motorcycles in the Indian market. Royal Enfield is expected to launch its first set of electric motorcycles under the Flying Flea brand towards the end of this year or early next year. RE is likely to target international markets initially before launching a wider launch in India.