Hero MotoCorp To Launch Its First Electric Two-Wheeler In 2022
Bajaj and TVS, the homegrown two-wheeler makers cover a huge percent of the Indian two-wheeler market and they already entered into the electric space with Chetak and iQube electrified models. Hero MotoCorp, the World’s largest two-wheeler maker in terms of volume, recently announced that the company is all set to launch its first electric two-wheeler in India. Hero MotoCorp will reportedly launch its all-new electric two-wheeler in the first quarter (January-March) of 2022. Hero is developing electric 2wheelers with both, fixed-battery and swappable battery models.
According to a recent report that surfaced on the interweb, Hero MotoCorp has recently joined hands with Taiwan’s Gogoro, which is known for making a battery swapping network. Gogoro also sells electric two-wheelers in Taiwan. It is true that the concept of electric mobility is increasing, Honda and Royal Enfield have also confirmed their plans to enter the electric vehicle segment. As per the sources, the trio (TVS, Hero, and Bajaj) will add new production lines and introduce new battery-powered scooters in the upcoming year.
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 non-swappable electric two-wheelers and swappable battery vehicles in partnership with its Taiwanese partner Gogoro. Hero MotoCorp has announced to extend the shutdown of its manufacturing facilities by another week till May 16, 2021, due to the COVID-19 pandemic. We can say that the year 2022 could shape up to be an important period for new electric two-wheeler launches in India.