Hero MotoCorp has just announced a price hike across its entire product portfolio. Under this revision, the ex-showroom prices of motorcycles as well as scooters have gone up. The updated price is in immediate effect, i.e. starting from 22nd September 2022. Hero also mentioned that the price revision had been done to offset the impact of cost inflation partially.
As part of this revision, prices will go up by up to INR 1,000. The exact quantum of increase will depend on the specific model and market. Not just Hero MotoCorp, but a host of other automakers have made a similar announcement in the recent few days.
Hero MotoCorp’s Plans For The EV Segment
Recently, Hero MotorCorp announced its partnership with Hindustan Petroleum. As a part of this, Hero MotoCorp and HP will work in tandem to set up charging infrastructure in the country. With the growing number of EVs in the country, the need of the hour is to set up a viable charging infrastructure. Hero MotoCorp is the world’s largest two-wheeler maker and has big plans for the EV segment.
The company has also announced Vida as the name of its EV brand. The company is working on launching its first EV product under the Vida brand. We do not have the E-scooter’s official spec sheet just yet. But, once launched, this could act as a major boost for the Indian EV segment.
Launch Timeline For Vida Electric Scooter
As of now, Hero has not disclosed any confirmed launch dates. But, we understand Hero could make use of the festive season to launch the scooter. Thus, we expect Hero to come up with the dates in the coming few days.
In March of this year, Hero MotoCorp had announced an investment of USD 100 million, roughly Rs 760 crore. The company will use this fund to train over 10,000 entrepreneurs in ESG solutions, including its upcoming electric vehicles. Thus, as it stands, Hero is pretty much dedicated to its EV business.