Hero MotoCorp aims to meet the demands of the customers across segments.
New Delhi:
Hero MotoCorp, the country’s largest two-wheeler company, has signed an agreement with US company Zero Motorcycles for the manufacture of expensive electric motorcycles and other related cooperation. has entered into an agreement with. Hero MotoCorp has informed about this in a statement on Monday. The company said that under this agreement, Hero MotoCorp will get marketing benefits including manufacturing scale along with Zero’s expertise in developing powertrains and electric motorcycles.
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The company’s board of directors had approved an equity investment of $60 million in electric motorcycle and powertrain company Zero Motorcycles in September 2022. Hero MotoCorp Chairman and CEO Pawan Munjal said, “This partnership with Zero Motorcycles is an important milestone in our journey towards ushering in an era of sustainable clean technology in the automotive sector.”
A few days ago, Hero MotoCorp revealed plans to expand its electric two-wheeler segment in the next one and a half to two years. The aim of the company behind this is to meet the demands of the customers in all segments. For this, the company is about to introduce a new product in the market.
Hero MotoCorp is giving tough competition to Bajaj Chetak, TVS iQube, Ather Energy, Hero Electric and Ola Electric in the electric two-wheeler market. In October last year, Hero MotoCorp launched the Vida V1 electric scooter. It was introduced in two variants Pro and Plus.
After the news of this partnership, the shares of Hero MotoCorp were trading with a gain of 15.75 points i.e. 0.64% at around 2 pm.
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