Hero MotoCorp Says It Has Begun Investing In E-Mobility Products

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Earlier this year, Hero MotoCorp had announced its tie-up with Taiwanese EV company Gogoro which has the world’s largest battery-swapping network

Automaker Hero MotoCorp said that it has begun investing in electric mobility products for both personal and mass transit usage.

Pawan Munjal, chairman and chief executive officer, Hero Motocorp, said in the company’s Annual report for 2020-21, “We have already declared our next ambitious goal – we will achieve the target of the next 100 million within this decade. In keeping with our vision – ‘Be The Future of Mobility’, our 200 millionth vehicle may not be a two-wheeler!”

“The future will have to be imagined today, so it can be delivered tomorrow. As I have often said, we are aggressively working towards multiple electric vehicle (EV) programmes and platforms and also on various other modular mobility solutions. Sustainability remains critical to our ethos and we will continue to work in line with these principles,” he added.

Adding that it is looking beoynd the traditional mobility space, the two-wheeler giant revealed that it also aims to strengthen its focus on the premium motorcycles and scooters segment in Bangladesh, Nepal, Latin America and Africa.

Hero MotoCorp is working on exploring new business models with battery as a service, vehicle as a service, and identifying new revenue streams for charging infrastructure.

Earlier this year, Hero MotoCorp had announced its tie-up with Taiwanese EV company Gogoro which has the world’s largest battery-swapping network. Munjal also said that the partnership is of global significance.

“This partnership will be a key to the propagation of electric vehicle charging technology and network. I would like to share that our relationship with Ather Energy in which we have 38% stake is actively evolving into a partnership on multiple fronts. This clearly is going to pave our way into being a market leader in the EV space,” he said.

“Hero MotoCorp continues to invest in the development of new products for our international markets and we are determined to expand our global footprint,” the annual report said.

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