The new Vida Z will be followed by high-capacity premium internal combustion engine motorcycles.
05 Nov 2024 | 11410 Views | By Kiran Murali & Ketan Thakkar
Setting eyes on global business and electric mobility, India’s largest two-wheeler maker, Hero MotoCorp today announced plans to expand its operations to the United Kingdom and Europe with the Vida brand in the second half of 2025.
“We will very soon launch operations in the UK and across Europe, led ...
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Setting eyes on global business and electric mobility, India’s largest two-wheeler maker, Hero MotoCorp today announced plans to expand its operations to the United Kingdom and Europe with the Vida brand in the second half of 2025.
“We will very soon launch operations in the UK and across Europe, led by our electric vehicle brand Vida. This expansion will also feature an impressive range of motorcycles designed specially with European riders in mind,” Pawan Munjal, Hero MotoCorp Executive Chairman, said while unveiling the new Vida Z.
The Vida Z will be the first product that Hero MotoCorp will sell in the UK and Europe. “VIDA Z is a product for the global audience, resonating from Barcelona to Bogota with its rich features and styling,” Swadesh Srivastava, Hero MotoCorp's Chief Business Officer for Emerging Mobility said. Vida Z will be followed by high-capacity premium internal combustion engine motorcycles.
The automaker currently has a technology center in Germany (TCG). It has also appointed distributors in Italy - Pelpi International S.r.l. and has entered into commercial agreements with partners in Spain (Noria Motos SLU), France (GD France) and UK (MotoGB UK).
Hero MotoCorp had only one product, Vida V1, in its electric vehicle portfolio. The Vida V1 is being sold in India at a starting ex-showroom price of around Rs 1 lakh now. V1 is now available across 100 cities and 150 dealers across the country.
The company had earlier said it plans to have four electric models in India by the end of this financial year as it looks to grab a larger pie of the electric vehicle market.
Autocar Professional has also reported that the automaker is eyeing a portfolio of electric motorcycles, with six models under the Vida range and four models under its alliance with Zero Motors, starting from 2025-26. Its first model is likely to be a premium model.
Hero MotoCorp sees significant potential in global business and electric mobility despite fluctuations in the global economy and sees it as a key revenue driver for the future.
Unlike many of its traditional competitors, Hero MotoCorp's share of exports in its total revenue is still in low-single digits— it has a good headroom to improve its business. The company has a presence in 48 countries and exports accounted for 3.9% of its Rs 37,456 crore revenue in the financial year 2024.
Hero MotoCorp's market share in exports from India increased to 5.8% from 4.7% during 2023-24. The automaker exported 2 lakh units during the year, up from 1.7 lakh units in 2022-23. The company launched 12 new and refreshed products in the International Market last year.
In the previous financial year, Hero MotoCorp set up a new subsidiary in Brazil with plans to invest in the manufacturing and distribution of two-wheelers, including parts and accessories.
Entry into the Philippines marked a significant milestone in its Southeast Asia export strategy as the country with an industry volume of 2.25 million units presents a significant opportunity in the area. The company is also exploring additional prospects in other key Southeast Asian markets.
The automaker opened a new assembly facility with its distributor partner CG Group, in Nepal, while in Bangladesh, the company is focused on penetrating the premium segment and expanding its core segment.