Hero MotoCorp has announced that it is finalising a collaboration with California-based Zero Motorcycles to co-develop electric bikes. Founded in 2006, Zero Motorcycles is a premium electric bikemaker that currently offers a line-up of sportbikes, nakeds, ADVs and dual-sport machines.
Hero will also make an equity investment to the tune of USD 60 million (approx. Rs 490 crore) in Zero Motorcycles, which has raised funding upwards of USD 300 million so far. This investment by Hero is likely to give it a sizeable stake in Zero.
This partnership with Zero Motorcycles represents a third prong in Hero's attack on the EV segment – it has already tied up with Taiwanese e-scooter specialist Gogoro to develop scooters featuring swappable batteries and has also developed its own in-house e-scooter that will launch very soon under the Vida sub-brand.
This partnership signifies Hero's first public interest in the electric motorcycle space, and it will be interesting to see what sort of models this collaboration spawns. Hero is an established manufacturer with vast expertise in the mass-market segment, while Zero is a start-up focusing on premium, niche machines.
Ved Janve
Azaman Chothia
Dinshaw Magol
Vishal Venugopal
