Hero MotoCorp set to launch its first electric model in 2022
Hero MotoCorp has announced that it will launch an electric model next year, marking its entry into the electric vehicle segment. According to media reports, to develop its electric vehicle vertical, the company intends to utilize its Jaipur, Rajasthan, and Stephanskirchen, Germany-based R&D setups. They are presently working to make products that have a fixed charging system.
The previous month, the company tied up with Taiwan-based Gogoro Inc to bring the latter's battery swapping technology in the country by utilizing it in its future EVs. The two-wheeler maker has also capitalized on Bengaluru-based EV startup Ather Energy which has already introduced some of its models to tap the pulse of the market.
Niranjan Gupta, the company's chief finance officer (CFO), vowed that 2022 will be a year full of surprises for two-wheeler enthusiasts. "We are trying to launch one of the EV products in the fiscal year 2022, and you will see multiple actions, whether it is our own product or a swap product or with Gogoro. All of those actions you will see in the next calendar year," he said based on the report.
Gupta added that that the company aims to use fixed as well as swapping charging technology parallelly. Battery swapping technology permits a user to quickly replace a discharged battery with a fully charged one. The timeline for both the projects is next year, he added.