The change in strategy comes as Hero MotoCorp Chief Executive Officer Niranjan Gupta and Chief Business Officer of India business Ranjivjit Singh are set to step down from the company on April 30.
31 Jan 2025 | 5460 Views | By Kiran Murali
Hero MotoCorp Ltd announced on Friday that it would move the electric vehicle and Emerging Mobility Business Unit (EMBU) into a fully independent unit from February 1. The EMBU was created by the automaker in 2019 to drive innovations in emerging mobility, including electric vehicles.
The EV & Emerging ...
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Hero MotoCorp Ltd announced on Friday that it would move the electric vehicle and Emerging Mobility Business Unit (EMBU) into a fully independent unit from February 1. The EMBU was created by the automaker in 2019 to drive innovations in emerging mobility, including electric vehicles.
The EV & Emerging Mobility Business Unit will transition to a fully independent and empowered unit, "leading the EV revolution and next-generation mobility under the mentorship of the Executive Chairman Pawan Munjal," the company said in an exchange filing.
"As part of this strategic shift, the Product Development teams across EMBU, Hero Tech Centre Germany (TCG) and Hero Centre for Innovation and Technology (CIT) will work in synergy to set new industry benchmarks."
The change in strategy comes as Hero MotoCorp Chief Executive Officer Niranjan Gupta and Chief Business Officer of India business Ranjivjit Singh are set to step down from the company on April 30. Swadesh Srivastava is currently the chief business officer for EMBU.
India's largest two-wheeler maker, which has a market share in the mid-single digits in the electric vehicle market, is intensifying its efforts in the electric vehicle space for a larger pie of the market. The company, which started sales of Vida in 2023, has been gradually expanding its presence across the country. Last year, Vida had a presence in more than 116 cities with over 180 dealers and 203 touchpoints.
Hero MotoCorp, which currently sells electric scooters under the Vida brand, has two models – Vida V1 and Vida Z. Recently, the company announced its plans to expand its operations to the United Kingdom and Europe with the Vida brand in the second half of 2025. Vida Z will be the first model that Hero MotoCorp will sell in the UK and Europe.
The automaker sees significant potential in global business and electric mobility. Chairman Pawan Munjal had last year said the company is looking at global business and electric vehicles as strong revenue drivers in the long term.
Autocar Professional has exclusively reported that Hero MotoCorp is set to accelerate its mainstream zero-emission market play with plans for a dozen new models in the next 2-3 years, ranging from entry-level models to dirt bikes to high-performance electric motorcycles.
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.
Hero MotoCorp has a partnership with US-based electric motorcycle maker Zero Motors, and is working to roll out two electric motorcycles equivalent to 500-600 cc models under this partnership in 2026-27.
Hero MotoCorp is also working with Ather Energy, in which it has around a 44% stake, to improve the electric vehicle ecosystem in the country.
Apart from flex fuel and ethanol-based fuel technology, the automaker has said it is also working on hybrid technologies for the long term.