Hero MotoCorp To Enter Electric Vehicle Segment In 2022: Report

Hero MotoCorp, the world's largest two-wheeler maker by volumes, will foray into the electric vehicle segment in 2022, according to a new report. The company is bullish on the electric vehicle segment and is utilising its R&D centres in Jaipur, Rajasthan as well as Stephanskirchen, Germany to develop its own set of products. More recently, the company tied up with Taiwan-based Gogoro Inc to bring its battery swapping platform to India. The Indian two-wheeler giant is likely to introduce its first electric two-wheeler in India next year. carandbike has reached out to Hero to confirm the details and will update this piece as and when the company responds.

Also Read: Gogoro Partners With Hero MotoCorp To Help It Transition To Electric Two-Wheelers

The Hero eMaestro concept was displayed at the company's CIT R&D centre in Jaipur, Rajasthan last year

A recent report quotes Niranjan Gupta - CFO, Hero MotoCorp, saying, "We are trying to launch one of the EV products in the fiscal year 2022, and you will see multiple actions, whether it is our own product or a swap product or with Gogoro. All of those actions you will see in the next calendar year." The senior official was speaking during an analyst call.

Gupta further elaborated that Hero's existing R&D centres have been working on developing products based on fixed charging systems. In 2020, the company displayed the Maestro Edge electric scooter at its CIT R&D in Jaipur, adding to the excitement. However, the Gogoro partnership opens up new avenues for the manufacturer with the swap-based system.

Speaking about the same, Gupta said, "Our view is that probably both will work in parallel to each other. Given the entire appetite and the infrastructure that exists, it is complementary that our own programme works on a fixed charging and then with Gogoro which will work on swapping, that allows us to play in both the spaces."

Hero plans to bring Taiwan-based Gogoro's swapping system to India

The Taiwan-based manufacturer will also help Hero strengthen its own product development programme. Gupta said, "From a swapping system, of course, Gogoro has got ready and proven technology. They know how it works and there is a lot of learning that has gone into it in Taiwan, so that helps us in taking off the ground very quickly," Gupta said.

Both projects are slated to arrive next year. "I would not say which part of the next year. Obviously, we are trying to accelerate as much as we can, but right now, I would say that in the next calendar year, you can hope to see a lot of actions on the EV front from our side as far as hitting the market is concerned," Gupta added further.

Also Read: Exclusive: Hero eMaestro Electric Scooter In The Works

The electric vehicle segment isn't entirely unfamiliar territory for Hero MotoCorp. The company already has invested in Bengaluru-based Ather Energy, which has become one of the powerhouse companies when it comes to the electric two-wheeler segment. However, there's said to be no technology sharing between Ather and Hero MotoCorp.

Meanwhile, rivals TVS Motor Company and Bajaj Auto have already made great strides in the EV sector as compared to Hero MotoCorp. Ola Electric, which begins operations later this year, will also compete head-on with the Indian two-wheeler maker in the EV space.

With respect to existing products and expansion plans, Gupta said that the company has a number of premium products lined up next year as well on the lines of the Xtreme 160R and the XPulse 200. He also noted that the pandemic did has had no impact on the company's product rollout plans.