While India will be the main market for the Hero ‘Vida’ electric brand, the manufacturer seems confident from the start and is expanding geographically.
Dr Pawan Munjal, Chairman and CEO, Hero MotoCorp, introduced the Vida brand in March this year
Hero MotoCorp plans to export its upcoming electric vehicles to Latin American and European markets, according to news reports. The company will venture into the electric mobility segment this year with the new ‘Vida’ brand. Hero’s first electric offering is scheduled to open coverage on July 1, 2022, and sales will likely begin later this year. While India will be a key market for Vida, the manufacturer seems confident from the start and expands into other geographies by leveraging its presence in Latin America, while also exploring Europe with faster EV adoption.
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The report quoted Sanjay Bhan, Head of Global Business – Hero MotoCorp, as saying, “Vida, Powered by Hero, is a global brand and we are working towards perfecting our strategic markets ahead of product and service launches. Some key geographies for our EV products are Europe and Latin America along with several other markets. “
The Vida brand made its global debut in March this year in Dubai and the Hero subsidiary’s first offering was touted as an electric scooter, which was teased by MotoCorp Hero Chairman, Managing Director & CEO Dr Pawan Munjal last year. The company will build a new electricity supply at its Chittoor plant. Hero partnered with Taiwan -based Gogoro to develop its electric scooter with most of the development done in -house at Hero’s R&D center. The company also received input from Ather Energy, a Bengaluru -based electric vehicle startup, in which Hero has a 34.8 per cent stake.
Hero is expected to introduce battery replacement with the next electric scooter and will leverage Gogoro’s expertise in the same. A battery exchange network will be provided in advance by the company with e-scooters to be introduced soon. Chances are the company will emulate the same model in other markets as well.
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The report quoted Bhan as saying, “There is huge appreciation for EV products, especially in mature economies and we aim to be present in many of these markets. Undoubtedly, EV gives us access to several new geographies as it opens up new customers and mobility segments.”
Currently, Hero is present in Colombia, Peru, Argentina and Mexico in Latin America and even has manufacturing facilities in Colombia. It also has a strong presence in African retail products in Kenya, Nigeria, Uganda and Tanzania.
Source: ET Auto
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