Hero MotoCorp, a prominent player in the Indian motorcycle market, is set to make waves in the electric two-wheeler segment with the recent unveiling of the high-performance MAVRICK 440. In a bid to meet the rising demand for motorcycles, the company is gearing up for a monthly production target of 10,000 units.
CEO Niranjan Gupta outlined the company’s ambitious plans for electrification during the Hero World 2024 event. Gupta revealed, “In FY25, we will launch electric scooters in the mid-price segment and in the economy segment to extend our Vida range.” Additionally, he announced the introduction of another electric two-wheeler tailored for the B2B last-mile delivery segment, recognizing its substantial market potential.
While discussing the potential collaboration with California-based Zero Motorcycles for electric bikes, Gupta acknowledged that it would take time due to the nascent and cost-intensive nature of the Indian market. However, he highlighted that technology from this partnership would be integrated into future mass-segment electric motorcycles.
To boost electric vehicle (EV) sales, Gupta shared that the availability of the Vida range has been expanded to 100 cities, with plans to enter 100 more cities in the next year. The company is also set to establish exclusive small stores for the Vida brand.
The MAVRICK 440, positioned in the premium segment alongside Harley Davidson’s HD440X, marks Hero MotoCorp’s foray into a market largely dominated by Royal Enfield. Gupta emphasized the company’s commitment to enhancing its position in the premium segment, with production scaling up from the current 6,000 units per month to a target of 10,000 units monthly by March.
Gupta provided insights into the success of HD440X, which initially received orders for 25,000 units and has since added another 5,000 units to the order book. The MAVRICK 440, with its high-performance capabilities, is poised to compete in the premium segment, bringing a new dimension to Hero MotoCorp’s product lineup.