MUMBAI: 15th May 2025: Hero Moto Corp (HMC), which has a 6% market share and sold 58,503 electric two-wheelers under the Vida brand in FY25, has announced plans to launch two new scooters aimed at the value segment of the electric vehicle market.
During an investor call, company officials stated that Hero Moto Corp's electric vehicle business increased by about 200 percent in FY25.
They stated that in FY26, the company plans to further reduce its EV sector losses from 155% in FY24 and below 95% it clocked in FY25. This strategy is underpinned by a clear focus on improving operational efficiency, scaling up products and services, and lowering the bill of materials budget (BOMB), all while capitalising on the Government of India's Production-Linked Incentive (PLI) schemes.
In FY25, retail sales reached 7,982 units in March 2025 alone. Following the introduction of its value models, Hero Moto Corp expects monthly sales of 25,000 to 30,000 units and anticipates cash-positive operations.
Company executives stated, "All of our building blocks for our EV business are in place; we just need to start implementing." Hero Moto Corp. is committed to expanding its operations and investing in electric vehicles.
They also stated that overall margins are expected to remain between 14 and 16 per cent, as existing products in the internal combustion engine (ICE) sector have received positive feedback. Furthermore, HMC intends to launch an upgrade to its customer value proposition in July, addressing fundamental customer requirements.
HMC currently offers three electric vehicle variants: V2 Pro, V2 Plus, and V2 Lite. The automaker recently introduced a new model, the Vida Z, which is expected to be released in July.
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