The country’s largest maker of two-wheelers, Hero MotoCorp on Thursday said it is finalizing a collaboration agreement with an American EV maker to jointly develop electric motorcycles, presumably for the Indian market.
Hero MotoCorp said its collaboration with California-based Zero Motorcycles will focus on co-developing e-bikes. Zero is a manufacturer of premium electric motorcycles and powertrains, the company said.
It added that Zero is a “global leader” in its segment.
Hero MotoCorp is investing up to $60 million in the 16-year old American OEM, it said.
The announcement comes just ahead of the launch of its first electric scooter under its new mobility brand Vida. Hero will unveil the product & lay down its plans to address the thriving electric mobility market in India on October 7.
Hero MotoCorp also has a partnership with Taiwanese battery sharing company Gogoro, and is expected to launch a solution with swappable batteries in collaboration with the company some time next year.
Separately, it is also a major stakeholder in Ather Energy, one of India’s most prominent two-wheeler OEMs.
Hero MotoCorp & Zero Motorcycles product could go up against premium electric motorcycles manufactured by rival TVS Motor Company-backed startup Ultraviolette.
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