New Delhi, Hero MotoCorp is looking to expand its presence in the electric two-wheeler segment as it aims to introduce new models below its existing range to cater to a wider set of customers, according to a senior company official. .
The country's largest two-wheeler maker currently sells two electric scooters under its Vida range, priced between Rs 1 lakh and Rs 1.5 lakh.
“We are also expanding our portfolio across mid and large scale in the first half of this year (current fiscal),” Swadesh Srivastava, business officer – emerging mobility BU, Hero MotoCorp, said in an analysis call.
He said that with the introduction of new products this financial year, the company will be able to play in each of the three segments premium, mid and mass.
He said, “With this, we are expecting significant growth within this year.And we're also looking to improve our cost structures."
He said that the company is going to see huge growth in the EV segment this year as well as next year.
“We are expecting strong growth this year and next based on portfolio and geographical expansion,” Srivastava said.
Hero MotoCorp has expanded the VIDA brand presence to more than 12 cities and 180 touch-points in the country.
It has also partnered with Ather Energy for an interoperable charging network, providing customers with over 2,000 charging points across 200 cities.To strengthen its global presence, VIDA is also expected to foray into the European and UK markets in FY2015.
Responding to a question, Hero MotoCorp CEO Niranjan Gupta said the company's CAPE guidance for the current financial year is between Rs 1,000 crore and Rs 1,500 crore.
He said that new products are being launched in the coming times.
“We are going to launch Zoom 125, Zoom 160 – the scooters will launch in the first half, you will also see some more efforts in the premium segment,” H told an analyst.
He further added, “And we can say with confidence that we are poised to accelerate growth for FY2025 and beyond."
The country's largest two-wheeler maker currently sells two electric scooters under its Vida range, priced between Rs 1 lakh and Rs 1.5 lakh.
“We are also expanding our portfolio across mid and large scale in the first half of this year (current fiscal),” Swadesh Srivastava, business officer – emerging mobility BU, Hero MotoCorp, said in an analysis call.
He said that with the introduction of new products this financial year, the company will be able to play in each of the three segments premium, mid and mass.
He said, “With this, we are expecting significant growth within this year.And we're also looking to improve our cost structures."
He said that the company is going to see huge growth in the EV segment this year as well as next year.
“We are expecting strong growth this year and next based on portfolio and geographical expansion,” Srivastava said.
Hero MotoCorp has expanded the VIDA brand presence to more than 12 cities and 180 touch-points in the country.
It has also partnered with Ather Energy for an interoperable charging network, providing customers with over 2,000 charging points across 200 cities.To strengthen its global presence, VIDA is also expected to foray into the European and UK markets in FY2015.
Responding to a question, Hero MotoCorp CEO Niranjan Gupta said the company's CAPE guidance for the current financial year is between Rs 1,000 crore and Rs 1,500 crore.
He said that new products are being launched in the coming times.
“We are going to launch Zoom 125, Zoom 160 – the scooters will launch in the first half, you will also see some more efforts in the premium segment,” H told an analyst.
He further added, “And we can say with confidence that we are poised to accelerate growth for FY2025 and beyond."
