Hero MotoCorp to Transition Electric Vehicle Business into Independent Unit Amid Leadership Shift

Bengaluru: Hero MotoCorp Ltd, India's largest two-wheeler maker, announced on Friday that it will move its Electric Vehicle and Emerging Mobility BusinessUnit (EMBU) into a fully independent unit from February 1. The decision comes ahead of the departure of CEO Niranjan Gupta and Chief Business Officer Ranjivjit Singh on April 30.

As part of this strategic shift, the EMBU will lead the electric vehicle revolution and next-generation mobility under the mentorship of Executive Chairman Pawan Munjal. The Product Development teams across EMBU, Hero Tech Centre Germany (TCG) and Hero Centre for Innovation and Technology (CIT) will work in synergy to set new industry benchmarks.

Hero MotoCorp is intensifying its efforts in the electric vehicle space as it looks to capitalize on the growing market. Currently, the company sells electric scooters under the Vida brand, with models such as Vida V1 and Vida Z. The automaker has plans to expand its operations to the United Kingdom and Europe for the Vida brand, with a focus on zero-emission motorcycles.

Chairman Pawan Munjal had previously stated that global business and electric vehicles are key revenue drivers in the long term. Autocar Professional reported that Hero MotoCorp is working on a dozen new models in the next 2-3 years, ranging from entry-level to high-performance electric motorcycles.

The company has partnered with US-based Zero Motors to roll out two electric motorcycle equivalent to 500-600 cc models by 2026-27. Additionally, Hero MotoCorp is working with Ather Energy, where it holds a 44% stake, to improve the country's electric vehicle ecosystem.

With this strategic shift, Hero MotoCorp looks to solidify its position in the growing electric mobility market.