Hero Electric: The first electric scooter, the Vida V1, was recently introduced by Hero MotoCorp, the largest two-wheeler manufacturer in India, for Rs 1.45 lakh.
Before you ask, no, the Vida V1 is unrelated to Hero Electric’s line of Hero electric scooters. Hero MotoCorp and Hero Electric are actually unrelated. Let us explain for those of you who have always found this confusing.
Hero Electric: The Pioneers
Under the leadership of Vijay Munjal and his son Naveen Munjal, Hero Electric Vehicles Private Limited is a division of the Hero EcoTech group. In India’s electric two-wheeler market, the company is a pioneer. Customers looking for reasonably priced utility electric vehicles are satisfied with its offerings. The scooters have the most basic features and are limited to 25 or 45 kph in speed.
Sales of electric two-wheelers assembled in India are facilitated by the company’s robust dealer network. But things are harder than they used to be because of new competitors like Ola Electric, Okinawa, and domestic producers like TVS, Ather, and Bajaj. Nevertheless, Hero Electric has been progressively growing its network of dealers and clients throughout the nation to the extent that it now controls a substantial portion of the market. As of April–September 2022, the brand is ranked third in terms of sales for the first half of the fiscal year 2022–2023.
Vida powered by Hero MotoCorp
Vijay Munjal’s uncle Pawan Munjal is the head of Hero MotoCorp. Despite the fact that they both use the Hero brand and the family name, they have very different business strategies. Hero Electric is one of the largest EV companies, but it pales in contrast to Hero MotoCorp, the giant of the global two-wheeler industry. The fact that the latter has never entered the EV market is what has kept them apart thus far. Thus far.
The two companies’ offerings are completely different from one another. First off, the V1 outperforms Hero Electric’s products in terms of both features and capabilities. The Vida V1 offers much more in terms of performance, battery life, top speed, and gradeability. This is also reflected in the price, which is nearly twice as high as the most costly Hero Electric scooter, starting at Rs 1.45 lakh (ex-showroom). The Vida V1 Pro is currently the priciest electric scooter available on the market.
It should go without saying that Vida and Hero Electric are aiming for entirely different markets. Thus, why didn’t Hero MotoCorp brand its first electric vehicle with the Hero badge? The Vida sub-brand was created for what reason?
Family feud
In a 2010 family settlement, it was decided that Hero Electric would be the only company allowed to use the Hero brand name on its electric vehicles, and Hero MotoCorp would not use it for its vehicles. This held true for EV sales both domestically and abroad.
But in the recent past, all manufacturers worth their salt have had to enter the rapidly expanding EV market. To put things in perspective, during the first half of FY2023 (April-September 2022) in India, over 2.75 lakh electric two-wheelers were sold.Â
Hero MotoCorp made it clear that it was not going to fall behind and announced plans to introduce its own electric scooter. Hero Electric would have faced difficulties if Hero MotoCorp had placed the Hero badge on its scooter. Considering the brand cachet that ‘Hero’ commands, quite a bit.
Hero MotoCorp fought to use the Hero badge on its electric vehicle products, leading to legal disputes in the Delhi High Court. Hero Electric, however, withdrew its petition against Hero MotoCorp in February of this year, and the issue was referred to an arbitration tribunal. Hero MotoCorp was granted permission to market its electric two-wheelers under the Hero brand in June after the tribunal ruled in the company’s favour.
But Hero MotoCorp had already made plans, started working on the EV, and had even unveiled the Vida brand in March. With the introduction of the V1 Pro and V1 Plus electric scooters, the company lived up to its name.
New Beginnings
Even though Hero MotoCorp would have preferred to use the Hero brand on its electric motorcycles, Vida will help set itself apart from Hero Electric. Time will tell how that works out for Hero MotoCorp and how much of an impact its V1 can make on the market.
In other news, Hero MotoCorp and Zero Motorcycles, a high-end American electric bike manufacturer, recently partnered to produce electric bikes together. This category might also be included in the Vida brand.
Hero Electric Review on You-Tube
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