Hero MotoCorp has also prepared to sell its electric scooters outside the country. In fact, the company plans to introduce e-scooters under its Vida Electric brand in the UK, France, and Spain by mid-2025. For its first venture in the UK and Europe, the company will meet the growing demand for electric vehicles. The company’s move coincides with the ongoing discussion on the India-UK Free Trade Agreement. This can reduce tariffs in the automotive industry, which will also create many growth opportunities.
According to a Financial Times report, Hero Chief Executive Niranjan Gupta highlighted the positive consumer sentiment towards its e-scooters in these sectors. The company, which is already a major player in Asia, Africa, and Latin America, plans to take advantage of this enthusiasm as it transitions to electric mobility. Let us tell you that the company has not had much success in the electric vehicle segment in the Indian market.
Apart from its electric scooter plans, Hero is exploring the possibility of exporting larger motorcycles with conventional petrol engines, including its premium Maverick model, to the UK and other European countries. However, analysts believe that success in these developed markets will require offering more expensive and premium motorcycles. Let us tell you that Hero’s existing partnership with Harley-Davidson allows it to produce the iconic brand’s motorcycles for the Indian market.
India’s vehicle emission standards, updated in 2020, are now in line with global regulations, facilitating the company’s entry into Europe. This is creating fresh opportunities for Indian manufacturers. Indian manufacturers like Hero are looking at new opportunities in developed markets due to higher duties on Chinese imports. Hero MotoCorp sold 512,360 units in August 2024. This represents a 38% growth on a month-on-month basis. Compared to last year, the company saw an 8% growth in year-on-year sales.