Hero MotoCorp country’s largest two-wheeler manufacturer is now exploring business models in the areas of EV batteries and charging networks to generate new revenue streams.
The Hero MotoCorp will launch its first-ever electric two-wheeler in FY22 to grab a market for battery-powered vehicles.
The Hero MotoCorp said in its latest annual report that it will explore new business models such as battery as a service and vehicle as a service.
Hero MotoCorp Said in the Report :
“Hero MotoCorp Will identify new revenue streams for charging infrastructure and accelerate digitisation efforts to target new-age customers and expectations,”.
Pawan Munjal, Chairman and MD Said :
“Our vision is to look beyond the traditional mobility space and we are already making investments in electric mobility products, both personal and mass transit,”
“We have already declared our next ambitious goal – we will achieve the target of the next 100 million within this decade. In keeping with our vision – ‘Be The Future of Mobility,’ our 200 millionth vehicle may not be a two-wheeler.”
Hero MotoCorp came up with Taiwan’s Gogoro to develop Hero-branded EVs for the Indian market in April,.
Gogoro is known for its battery-swapping and smart mobility innovation.
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