Key points
- Hero MotoCorp, the largest motorcycle manufacturer in India, has made a significant investment in Zero Motorcycles, a California-based electric motorcycle manufacturer.
- The two companies have announced plans to co-develop premium electric motorcycles and bring Zero’s products to India.
- The partnership is a major coup for Zero, which has been looking to expand its reach in India, the world’s largest motorcycle market.
- Hero MotoCorp’s manufacturing and distribution capabilities will give Zero a major boost in India, and the partnership will also allow the two companies to share their respective expertise in electric motorcycle technology.
- The partnership is also a sign of the growing importance of electric motorcycles in India. The Indian government has set ambitious targets for the adoption of electric vehicles, and Hero MotoCorp is looking to position itself as a leader in the electric motorcycle market.
Here are some of the benefits of the partnership for both companies:
- For Hero MotoCorp, the partnership will help it to expand its product portfolio and enter the growing electric motorcycle market.
- For Zero Motorcycles, the partnership will give it access to Hero MotoCorp’s manufacturing and distribution capabilities, which will help it to expand its reach in India and other markets.
- The partnership will also allow the two companies to share their respective expertise in electric motorcycle technology, which will help to accelerate the development of new and innovative electric motorcycles.
Details
The news from Hero MotoCorp’s Annual Report in July 2023 reveals the company’s plans regarding its partnership with Zero Motorcycles. The collaboration between Hero and Zero aims to co-develop premium electric motorcycles, utilizing Zero’s expertise in electric vehicle technology to create innovative and high-performance EVs. Hero’s goal is to diversify its electric vehicle portfolio, capturing a wider customer base and benefiting from the global shift towards electric mobility.
Zero’s expertise
The report highlights that the partnership combines the strengths of Zero’s expertise in powertrain and electric motorcycle development with Hero’s significant scale in manufacturing, sourcing, and marketing. This makes sense, given Hero MotoCorp’s status as the largest motorcycle manufacturer in India and India’s position as the largest motorcycle market globally.
Accelerate the transition
Specifically, Hero MotoCorp plans to bring Zero Motorcycles’ portfolio of products into the Indian market, making international clean mobility options more accessible to Indian consumers. Additionally, Zero will manufacture its products in India through this partnership. The ultimate objective of this collaboration is to accelerate the transition to electric mobility not only in India but also across global markets where Hero operates.
The report also mentions the competition in the premium electric motorcycle segment in India, as fellow manufacturer Energica has publicly announced its intentions to enter the Indian market by 2024. Hero MotoCorp is poised to face this competition head-on with its Zero Motorcycles partnership and capitalize on the growing demand for electric vehicles.
Conclusion
Hero’s collaboration with Zero Motorcycles is a strategic move to strengthen its presence in the electric two-wheeler market and enhance its sustainable mobility offerings, leveraging the technological expertise of its partner and its own robust manufacturing and distribution capabilities.
Here are some of the key takeaways
- Hero MotoCorp has made a $60 million investment in Zero Motorcycles.
- The two companies will co-develop premium electric motorcycles.
- Zero Motorcycles will manufacture its products in India.
- The partnership is a major coup for Zero and a sign of the growing importance of electric motorcycles in India.
Hero MotoCorp Annual Report 2022-23
