Hero MotoCorp one of India’s largest two-wheeler manufacturers going to launch its first EV in India in Q4 2022.
- Hero MotoCorp working on its own range of non-swappable electric two-wheeler
- Hero to invest more than Rs 1,000 crore on their EV expenditure
- Next year will be the year for electric Two-wheelers as main stream company are launching their EVs
As more and more companies are launching their best electric two-wheelers in the Indian market, the mainstream manufacturer is also going towards the greener power source, Hero MotoCorp one of the largest two-wheelers manufacturers is working to launch their first EV by early next year at an accessible price range and the first signs have already seen in India. TVS, Hero, and Bajaj control 70 percent of the Indian two-wheeler market from commuters to small scooters. As per reports Hero MotoCorp currently working on its own non-swappable electric two-wheelers.
All the mainstreams are now actively working on their battery-powered scooters and commuters. That being said, the trio going to add new production plants and new battery-powered Scooters in their Indian as well as global Line-up with new capable batteries. Although, the current health crisis may alter the brand’s plan. Bajaj Auto to invest Rs 650 Crore on its new production facility at Chakan near Pune and could also be used for the production of KTM, Husqvarna, and triumph by 2023. As for Hero MotoCorp plans to invest Rs 1,000 Crore in FY2022 as capital expenditure and could be recalibrated as well.
TVS to invest Rs 800 Crore for new research work and production facility as well as to expand its sales network of iQube in more than 20 cities as well. Hero MotoCorp first electric two-wheeler is likely to debut next year in Q4. It is said to be working on its own non-swappable battery-electric two-wheeler and swappable battery vehicles with partnerships with Gogoro. As for now, Her has extended their production halt till 16th May 2021, due to a health crisis across India. While the calendar year 2022 will be the shaping year of electric Two-wheelers and four-wheelers as mainstream manufacturers working to launch their new EV products next year.