Ev Export: Hero MotoCorp will export electric vehicles to Latin America and European markets

In a move that will support the government’s vision of developing India as an electric vehicle manufacturing hub, the country’s largest two-wheeler maker, Hero MotoCorp, has started work on seeding markets before launching products and services under its emerging mobility brand. Vida’.

Electric vehicles are a priority area for the company, which will launch its first product in the segment next quarter. Besides local sales, some of the key geographies for EV products will be Europe and Latin America, Sanjay Bhan, head of Hero MotoCorp Global Business, told ET.

“Vida, Powered by Hero, is a global brand and we are working on seeding our strategic markets before the launch of products and services. Some of the key geographies for our EV products will be Europe and Latin America along with a few other markets,” Bhan informed.

Earlier in March this year, Hero MotoCorp unveiled “Vida, Powered by Hero” as the new identity for its emerging mobility solutions. The first of Vida’s products – an electric vehicle – will be officially unveiled on July 1, 2022, to coincide with the birthday of Brijmohan Lall Munjal, the late founder of Hero MotoCorp.

Production of the new Vida model will take place at Hero MotoCorp’s manufacturing facility in Chittoor, India. Shipments to customers will begin later in 2022. Hero MotoCorp has partnered with Taiwan’s Gogoro to set up a battery swap network ahead of the launch of its first electric two-wheeler, a collaboration that could also be extended to global markets.

“There is a great appreciation for EV products, especially in mature economies and we aim to be present in many of these markets. Without a doubt, electric vehicles give us access to several new geographies as they open new customer and mobility segments,” Bhan said.

Overall, Hero MotoCorp – which recorded its highest ever sales in markets outside India last fiscal year – aims to register 15% of its sales overseas by 2025. two years and we are striving to increase the contribution of global sales to 15% of our company’s global sales over the next two years. The maker of Splendor motorcycles, Xpulse 200 and Xtreme 160R, recorded sales of 300,624 units in its 42 global markets last fiscal year, up 57% from 191,609 units sold in the exercise 21.

Hero MotoCorp is working to further strengthen its operations, product portfolio and service bouquet in its global markets. The company developed market-specific products – the Hunter 100 motorcycle in Nigeria, the Hunk 200 in Latin America and the Hunk 150 in the Middle East – to reach targeted customer segments. Motorcycles like the Xpulse 200 and Xtreme 160R have further enabled the company to cater to all customer segments in key geographies.

Bhan informed that the company has improved its global operations, both in terms of volumes and presence. In the coming months, Hero MotoCorp plans to further expand its presence in international markets such as Colombia, Peru, Argentina and Mexico in Latin America; Kenya, Uganda and Tanzania in East Africa; Nigeria in West Africa; and Bangladesh and Nepal in Asia to bolster volumes.