On Monday, Hero MotoCorp, the country's largest two-wheeler manufacturer, announced that it is moving beyond traditional transportation and is already investing in electric mobility goods, both personal and mass transit.
In Bangladesh, Nepal, Latin America, and Africa, the corporation also wants to focus more on premium bikes and scooters.
“We have already proclaimed our next ambitious goal – we will meet the target of the next 100 million within this decade,” Pawan Munjal, chairman and chief executive officer of Hero Motocorp, said in the company's Annual report for 2020-21. Our 200 millionth car may not be a two-wheeler, in keeping with our objective of ‘Be The Future of Mobility.'
“Tomorrow's future must be envisaged today in order to be delivered tomorrow. As I've previously stated, we're working hard on a number of electric vehicle (EV) programmes and platforms, as well as a variety of other modular mobility options. Sustainability remains critical to our ethos and we will continue to work in line with these principles,” he added.
The two-wheeler manufacturer is experimenting with new business models such as battery as a service and vehicle as a service, as well as finding new revenue streams for charging infrastructure.
Munjal further stated that the company's earlier this year announced cooperation with Gogoro Inc is of global significance. Gogoro Inc is a Taiwanese electric vehicle (EV) manufacturer with the world's largest battery swapping network.
"This partnership will be a key to the propagation of electric vehicle charging technology and network. I would like to share that our relationship with Ather Energy in which we have 38% stake is actively evolving into a partnership on multiple fronts. This clearly is going to pave our way into being a market leader in the EV space," he said.
In January of this year, the automaker passed the 100 million cumulative manufacturing mark, emphasising its commitment to worldwide business. The annual report stated, "Hero MotoCorp continues to invest in the development of new products for our international markets, and we are motivated to extend our global footprint."
About the partnership with Harley Davidson, the company noted, “This partnership is an important stepping stone in the road to ‘Premiumisation’ of our brand and product. From building premium retail experience outlets to premium ownership models, Hero MotoCorp is enhancing capabilities and preparing itself to expand its presence in the premium two-wheeler segment. Hero MotoCorp is also in the process of developing a range of premium products, both under Harley and Hero MotoCorp brand names.”