Hero MotoCorp s EV Venture : Hero MotoCorp on Friday declared its entry into EVs and Emerging Mobility Business Unit (EMBU) as a completely independent unit from February 1. The EMBU was established by the automaker in 2019 to help drive innovations related to emerging mobility, including electric vehicles.
Hero MotorCorp’s plan for EVs
In an exchange filing on Friday, the company said the EV & Emerging Mobility Business Unit will now have a clear mandate to “drive the EV revolution and next-generation mobility under the tutelage of the executive chairman Pawan Munjal” as a fully independent and empowered business unit.“As a part of this strategic shift, the product development teams across EMBU, Hero TCG and Hero CIT will synergize to establish new industry benchmarks.”
This change in strategy comes at a time when two senior executives of Hero MotoCorp, chief executive officer Niranjan Gupta and chief business officer of India Business Unit, Ranjivjit Singh are set to leave the company on April 30. Swadesh Srivastava is the current chief business officer for EMBU
Hero MotoCorp is the largest two-wheeler manufacturing company in India and is stepping up efforts to expand its market share in EV which currently stands in mid-single digit range. In 2023, the company began selling electric scooters under the Vida brand, and has been slowly expanding its footprint across the nation. Vida was operational in 116+ cities last year with 180+ dealers and 203 touchpoints.
Currently, the company offers its Vida brand in two models, Vida V1 and Vida Z. Recently, the company stated that it plans to expand its operations in United Kingdom and Europe under the Vida brand in the second half of the year. Hero MotoCorp’s first offering for these markets will be the Vida Z.The automaker believes there is plenty of scope for global business and electric
mobility. For the long term, Munjal said that the company sees global business and EVs as strong revenue drivers.Sister publication Autocar Professional has exclusively revealed that Hero MotoCorp is readying to ramp up its play in the mainstream zero-emission space with a dozen new models – including entry level two-wheelers to dirt bikes to high-performance e-bikes – which could arrive in the next 2-3 years.
One of the company’s biggest projects is an electric version of the popular Splendor motorcycle. The product for which the development work has been ongoing at its tech centre in Jaipur — CIT — for the last two years is expected to book between 2027 and 2030.
As for Hero MotoCorp, it is collaborating with US-based electric motorcycle maker Zero Motors, both of them plan to launch two e-bikes with 500-600 cc equivalent models in 2026-27. It is also collaborating with Ather Energy, of which it owns nearly 44 per cent, to enhance the electric vehicle ecosystem in the nation. In addition to focusing more on Evs, the automaker is working on hybrid, flex fuel and ethanol based fuel technologies as well.