Hero MotoCorp Will Launch Its First EV Next Month

With the release of its first model on the domestic market next month, Hero MotoCorp plans to enter the electric vehicle industry. A new age in mobility is set to begin, the business claimed in a regulatory filing, pointing to an occasion on October 7 under the Vida brand. The two-wheeler industry leader has sent invitations to the event in Jaipur, Rajasthan, to its dealers, investors, and international distributors.

Industry insiders have verified that the business will introduce its first electric vehicle at the occasion. The business created the device at its Centre of Innovation and Technology R&D hub in Jaipur and would use its Chittor manufacturing facility in Andhra Pradesh to launch the product.

The EV debut was originally scheduled for March by Hero MotoCorp but was postponed to July. Due to supply chain problems brought on by the chip scarcity, the business later postponed it till the holiday season.

"The current geopolitical environment has led to significant supply chain problems and shortages of several components, including semiconductors. Customers being our primary priority, we believe it would be wiser to introduce the first EV product during the next holiday season rather than in July as was previously planned. Accordingly, we are preparing for the launch of Vida, powered by Hero, over the holiday season," said Swadesh Srivastava, head of Hero MotoCorp's growing mobility business segment, in June.

Hero MotoCorp received a favourable decision earlier this year from an arbitration tribunal allowing it to use the Hero brand for its electric vehicles. Hero MotoCorp was prohibited from using the name Hero for its electric vehicles by Hero Electric, a pure-play EV company that is a member of the wider Munjal family.

While Pawan Munjal is in charge of Hero MotoCorp, his nephew Naveen Munjal is in charge of Hero Electric, which is the biggest two-wheeler participant in the EV market.

Hero MotoCorp was being sued by Hero Electric for exploiting the Hero brand to sell electric vehicles. Hero Electric was not given any remedy by an arbitration panel, nevertheless.