While Bajaj and TVS now dominate export markets, Hero MotoCorp is increasing its efforts in this area. The organisation already has operations in Latin America, Africa, and Asian nations such as Nepal and Bangladesh. Hero MotorCorp EVs can be offered in these places, as well as in emerging geographies like as Europe.
According to Hero MotoCorp, its planned EVs will drive the company's next phase of expansion in international markets. Mature markets such as Europe will be among those targeted. At these places, there is a heightened awareness of climate change and a growing demand for EVs. Setting up charging and battery switching facilities in European countries will also be more convenient.
Hero MotoCorp intends to earn 15% of its total sales from global markets by 2025. The strategy appears to be comparable to that of Bajaj and TVS, who have established themselves as worldwide two-wheeler companies.
Hero's export figures for FY22 have been impressive, with growth reaching 57 percent. In comparison to 191,609 units sold in worldwide markets in FY21, 300,624 units were sold in FY22. This is the company's highest-ever foreign sales figure.
One of the great techniques Hero has used in international markets is to develop goods that are tailored to local demands and tastes. There's a Hunter 100 for Nigeria, and a Hunk 150 for the Middle East, for example. Similarly, in Latin American nations, Hunk 200 has emerged as a popular choice. There are other bikes that have been best-sellers in many regions, such as the Xpulse 200 and Xtreme 160R.
Hero MotoCorp will market its EVs under the Vida brand. The first Vida EV, an electric scooter, is scheduled to be presented on July 1, 2022. The ceremony commemorates the late Brijmohan Lall Munjal, the original founder of Hero MotoCorp. Vida electric scooters will be produced at the company's manufacturing facility in Chittoor, Andhra Pradesh. Deliveries are planned to begin later this year.
Hero MotoCorp will replicate the Taiwan model in India in order to provide something genuinely distinctive. EVs with swappable batteries are the most popular in Taiwan, and Gogoro owns and operates a large portion of the market. Hero has partnered with Gogoro to build a comparable battery swapping infrastructure in India. This partnership will most likely be used in worldwide markets as well.
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