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Hero MotoCorp Eyes Leadership in Electric Two-Wheelers with Affordable Models: CEO

YourStory

YourStory · 1y ago

Hero MotoCorp Eyes Leadership in Electric Two-Wheelers with Affordable Models: CEO

Hero MotoCorp aims to lead the electric two-wheeler market by introducing affordable models this fiscal year. The company plans to rapidly scale its electric vehicle business and expand its product portfolio. Hero MotoCorp's VIDA electric scooters have seen success in India, and the company hopes to launch them in international markets as well. The company is also partnering with Ather Energy and Zero Motorcycle to create a robust charging infrastructure and develop new EV motorcycles. Hero MotoCorp is focusing on speed, scale, synergy, and simplification, leveraging its significant scale advantage to drive success.

Related News

Hero MotoCorp to buy additional 3% stake in Ather Energy for up to ₹140 crore

Livemint

Livemint · 1y ago

Hero MotoCorp to buy additional 3% stake in Ather Energy for up to ₹140 crore

Hero MotoCorp has announced its plans to purchase additional shares of Ather Energy, which will increase its stake in the company to 39.7%. Ather Energy is engaged in the manufacturing and selling of electric two-wheelers. The deal will involve Hero MotoCorp buying the additional shares for ₹140 crore. Additionally, Hero MotoCorp has made two key executive appointments, bringing in Vivek Anand as Chief Financial Officer and Rachna Kumar as Chief Human Resources Officer. Both executives bring extensive global experience to their roles.

Zerodha co-founder Nikhil Kamath to invest in Ola Electric-rival Ather Energy: Report

IndianStartupNews

IndianStartupNews · 1y ago

Zerodha co-founder Nikhil Kamath to invest in Ola Electric-rival Ather Energy: Report

Zerodha's Co-founder, Nikhil Kamath, is set to invest in Ather Energy, an EV maker competing with Ola Electric. The investment will be a secondary share sale, with Nikhil acquiring existing investors' shares in the company. Ather Energy recently raised Rs 900 crore in funding and offers electric two-wheelers such as the 450S and 450X models. Notable investors in Ather Energy include Hero MotoCorp, GIC, and Sachin Bansal.

Ather Energy's Chief Business Officer Calls for Policy Predictability to Drive Two-Wheeler Electric Mobility

Business Bytes

Business Bytes · 1y ago

Ather Energy's Chief Business Officer Calls for Policy Predictability to Drive Two-Wheeler Electric Mobility

Ravneet S Phokela, Chief Business Officer at Ather Energy, stresses the importance of policy predictability in driving investments for the growth of electric two-wheelers in India. Ather Energy, backed by Hero MotoCorp, aims to achieve 100% electrification of the domestic two-wheeler market by 2030 and emphasizes the need for stable policies and regulatory support for this transition. Investments from established players like Hero MotoCorp and a supportive regulatory environment are crucial for the success of electric mobility in India.

Two-wheeler EV maker Ather Energy expands into Nepal

Economic Times

Economic Times · 1y ago

Two-wheeler EV maker Ather Energy expands into Nepal

Bengaluru-based electric scooter maker Ather Energy, backed by Tiger Global, is expanding its presence into Nepal. Ather recently secured Rs 900 crore in funding from Hero MotoCorp and GIC. The company aims to strengthen its foothold in the electric vehicle market and increase its production capacity. Ather's move comes at a time when the demand for electric two-wheelers is on the rise in India.

Hero MotoCorp, US partner in advanced stage of developing mid-sized electric bike

YourStory

YourStory · 9m ago

Hero MotoCorp, US partner in advanced stage of developing mid-sized electric bike

Hero MotoCorp and Zero Motorcycles are in the advanced stage of developing a mid-sized performance electric motorcycle. The collaboration between the two companies, which began in 2023, aims to develop premium electric bikes. Hero MotoCorp CEO, Niranjan Gupta, mentioned in an analyst call that the electric motorcycle is in the advanced stage and will be in the middle-weight segment in terms of size. The company is also expanding its electric scooter range and expects its electric products to be compliant with the PLI scheme in FY26.

Hero MotoCorp foresees stable double-digit growth in two-wheeler industry revenue

Thehindubusinessline

Thehindubusinessline · 1y ago

Hero MotoCorp foresees stable double-digit growth in two-wheeler industry revenue

The domestic two-wheeler industry is expected to experience a double-digit revenue growth in the next fiscal year, driven by demand for premium models, according to Hero MotoCorp CEO, Niranjan Gupta. The company also anticipates a recovery in the entry-level segment. Gupta highlighted a shift towards premiumization in the domestic two-wheeler space, with buyers seeking feature-rich trims. The company plans to upgrade sales outlets to cater to the growing demand for premium models. Additionally, Hero MotoCorp aims to expand its premium portfolio through its partnership with Harley-Davidson.

Ola Electric competitor Ather Energy files for IPO to raise Rs 3,100 crore

Economic Times

Economic Times · 11m ago

Ola Electric competitor Ather Energy files for IPO to raise Rs 3,100 crore

Indian electric two-wheeler manufacturer Ather Energy has announced its plans to go public with an initial public offering (IPO) of fresh shares valued at Rs 3,100 crore ($369.4 million). Ather, which is backed by Hero MotoCorp, produces electric scooters and competes with Ola Electric. The IPO will also include the sale of up to 22 million shares by investors and major shareholders. The capital raised will be used for establishing a new manufacturing plant for electric two-wheelers in Maharashtra and for research and development efforts. Axis Capital and JM Financial are the lead managers for the IPO.

Two-wheeler industry to see double-digit revenue growth next fiscal: Hero MotoCo

Livemint

Livemint · 1y ago

Two-wheeler industry to see double-digit revenue growth next fiscal: Hero MotoCo

Hero MotoCorp CEO Niranjan Gupta predicts a double-digit revenue growth in the Indian two-wheeler industry for the upcoming fiscal year. He notes a rising demand for premium models and an improvement in the entry-level segment. Gupta highlights the increasing preference for feature-rich motorcycles and observes a positive trend in rural areas as well. Hero MotoCorp plans to upgrade sales outlets to sell premium segment models and has already upgraded 300 dealerships. The company also announced a partnership with Harley-Davidson for developing and selling premium motorcycles in India.

Hero MotoCorp invests Rs 124 Cr in Ather Energy, now controls nearly 42% stake

Entrackr

Entrackr · 1y ago

Hero MotoCorp invests Rs 124 Cr in Ather Energy, now controls nearly 42% stake

Hero MotoCorp has approved the purchase of an additional 2.2% stake in the electric scooter maker Ather Energy for about Rs 124 crore (approximately $15 million). This is the third investment from Hero MotoCorp in the Bengaluru-based company in the last nine months. In December, Hero MotoCorp acquired 3% stake in Ather Energy for Rs 140 crore ($16.8 milion). With the latest investment, Hero MotoCorp now controls nearly 42% holding in the Tarun Mehta-led company. The development comes shortly after Ather Energy’s $34.5 million debt and equity fundraise in which co-founders Mehta and Swapnil Jain also pumped in over $10 million collectively. Ather was valued at $750 million during the Series E round in May 2022. However, it has not disclosed its valuation since then. As per startup data intelligence platform TheKredible, Sachin Bansal is the second largest investor after Hero MotoCorp in Ather. Other notable external stakeholders include Caladium Investment and Tiger Global. During FY23, Ather’s revenue from operations spiked 4.36X to Rs 1,784 crore while its losses grew 2.5X to Rs 864.5 crore in the same period. The company is yet to file its financial results for FY24. Electric two-wheelers saw an uptick in sales in May after a 50% drop in overall sales in April. As per Vahan data, Ather Energy had a market share of 9.45% as it sold 6,024 units in the last month. Its competitor Ola Electric was at the top with the sale of 37,191 units followed by TVS and Bajaj with 11,737 units and 9,189 units, respectively.

Top banks and NBFCs eye electric two-wheeler financing as prices set to soar

Money Control

Money Control · 2y ago

Top banks and NBFCs eye electric two-wheeler financing as prices set to soar

Indian banks and non-banking financial companies (NBFCs) are entering the electric vehicle (EV) financing business, particularly in the two-wheeler segment, as EV prices are expected to rise with increased demand. Ola Electric partners with Shriram City Union Finance, and Ather Energy offers up to 100% on-road financing through collaborations with banks like IDFC First Bank, HDFC Bank, and ICICI Bank. Hero Electric also collaborates with IDFC FIRST Bank for affordable finance options. The partnerships aim to make EVs more accessible and accelerate their adoption amid reduced government subsidies for EV two-wheelers.

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