Hero to launch first EV bike in first half of 2022

Hero Motocorp plans to launch an electric two wheeler by first half of 2022, said a senior executive on Friday.

The entry of Hero into the EV market will give a push to India’s electrification plan. “Though there is no firm timeline, we will be looking to enter the EV market by calendar year 2022,” said Nirnajan Gupta, Chief Financial Officer of Hero.

Simultaneously, the company’s strength in the entry level segment is going to be an added advantage as this segment is expected to be the first to switch over to electric in the coming years, according to experts.

The company last month had tied up with Taiwanese electric two-wheeler maker Gogoro to accelerate the shift to sustainable electric mobility in India which will see the Indian bike maker develop Gogoro's battery swapping stations. Additionally, the collaboration also includes Hero-branded EVS that will be powered by Gogoro Network vehicles.

Battery swapping is seen as an effective way to get around the problem of lack of charging stations in India and is believed to be highly effective for B2B fleet and delivery services.

“The future is electrification. We are seeing that happening across the world. All of them are progressing at a fast pace. Ather has been expanding very fast, opening up more and more dealerships. It recently introduced products that have been well accepted by the market. The founders are following their vision in a focused approach,” Pawan Munjal, chairman and chief executive of the company had said recently.