Hero MotoCorp is set to broaden its electric two-wheeler portfolio under the Vida sub-brand. The renowned two-wheeler manufacturer has announced plans to launch a new electric vehicle (EV) in the first half of the current financial year. Swadesh Srivastava, Chief Business Officer – Emerging Mobility BU at Hero MotoCorp, confirmed the company’s intention to expand its electric offerings by FY25, as reported by PTI. Currently, Vida offers two electric scooters priced between ₹1 lakh and ₹1.5 lakh (ex-showroom).
“We are expanding our portfolio in the first half of this year (current fiscal)..into the mid and the mass segment as well’‘ Srivastava reportedly said while revealing the expansion plan. He also mentioned that with the upcoming product launches this fiscal year, the company will be positioned to compete across all three market segments: premium, mid-range, and mass. “With this, we are looking at significant growth within this year. And we are also looking to improve our cost structures,” he said.
Srivastava also added that the company anticipates significant growth in the electric vehicle segment in both FY25 and FY26.“We are looking at steep growth this year and next year, based on the portfolio and the geographical expansion” he reportedly said.
Expanding VIDA’s Reach
Since the launch of the VIDA brand, Hero MotoCorp has expanded its presence to more than 120 cities with over 180 touchpoints across the country. To support the charging needs of Vida electric scooters, the company has partnered with Ather Energy to create an interoperable EV charging network. This collaboration provides customers access to over 2,000 charging points across 200 cities.
Strategic Expansion Plans
Hero MotoCorp’s strategic expansion in the electric two-wheeler segment is a response to the intensifying competition and growing consumer demand for EVs. By introducing new models under the Vida sub-brand, the company aims to strengthen its position and increase its market share. This move reflects Hero MotoCorp’s commitment to innovation and sustainability in the rapidly evolving automotive industry.
