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Hero MotoCorp Ties-Up with Zero Motorcycles to Manufacture Electric Two Wheelers in India

This step comes as India's EV market is anticipated to grow at a compounded annual growth rate (CAGR) of 90 percent to achieve USD 150 billion by 2030.

July 31, 2023. By EI News Network

Motorcycle manufacturer Hero MotoCorp has declared a significant partnership with Zero Motorcycles, an American electric motorcycle manufacturer.

The partnership intends to expedite the transition of electric mobility in India and throughout the global markets.

Through this collaboration, Hero MotoCorp plans to manufacture, assemble, and sell Zero Motorcycles' electric vehicles (EVs) in India. This step comes as India's EV market is anticipated to grow at a compounded annual growth rate (CAGR) of 90 percent to achieve USD 150 billion by 2030.

Hero MotoCorp stated, “This partnership will allow us to marry Zero’s world-class expertise in developing powertrains and electric motorcycles with our manufacturing and distribution capabilities. We will be bringing the Zero portfolio into India, increasing access for the Indian consumer to the best of international clean mobility options.”

Hero MotoCorp forayed into the Indian EV market with the Vida V1 Plus and Vida V1 Pro electric scooters. These scooters are targeted at the premium electric scooter market in India.

Hero MotoCorp Limited is an Indian multinational two-wheeler manufacturer based in New Delhi.

Zero Motorcycles Inc. is an American manufacturer of electric motorcycles. The firm has former name Electricross. It was established in 2006 by Neal Saiki, a former NASA engineer. The company is located in Scotts Valley, California, USA.

Tags:

Strategic Partnership

Manufacture, assemble and sell

Zero Motorcycles' EVs

Transition of electric mobility

Compounded annual growth rate