Hero MotoCorp aims to further up its ante in the electric vehicle space and has announced its plans to collaborate with US-based Zero Motorcycles. The California-based manufacturer of premium electric motorcycles and powertrains has 9 models in its lineup ranging from naked, street, and even dirt bikes.
The new collaboration will focus on co-developing electric motorcycles. Hero MotoCorp’s board has also approved an equity investment up to $60 million (Rs 485 crore) in Zero Motorcycles.
This marks Hero MotoCorp’s second investment in an electric two-wheeler company after Ather Energy. The OEM is aggressively looking at new partnerships and investments to strengthen its foothold in the electric vehicle space, where at present it does not have a single product.
The company says as part of its vision ‘Be the Future of Mobility’, Hero MotoCorp is addressing the electric mobility space through a range of organic and inorganic /collaboration initiatives and will launch its first electric product, under its emerging mobility brand Vida, Powered by Hero, on October 7, 2022.
It is important to note that Hero MotoCorp has also partnered Taiwan’s Gogoro in 2021, to introduce a battery swapping network in India and collaborate on electric vehicle development to bring Hero-branded, powered by Gogoro Network vehicles to market.