Hero MotoCorp has formed a new joint venture with US-based Zero Motorcycles. The new JV will focus on developing affordable e-bikes for India.
- Hero to invest Rs 490 Crores in Zero Motorcycles
- The joint venture will develop a new range of e-bikes for India
- Zero could launch its SR/F in India soon
As the electric vehicle spectrum grows, new joint ventures are shaping up. One such handshake took place between Hero MotoCorp and Zero Motorcycles. While Hero is a leading Indian two-wheeler brand, Zero is a US-based e-bike maker. The new joint venture will allow both brands to R&D new e-bikes for India. Additionally, it has opened up new channels for Zero in India.
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Hero-Zero Deal Details
As per the official details, the new pact between both brands is already on now. Hero is reported to have invested Rs 490 crores in this project. Why? Well, Hero is seeing an enormous future in the EV segment of India. Hence, the Hero Electric Vida scooter is going to launch soon as well. Additionally, this will help Hero to utilize the expertise of this premium EV maker.
Speaking of Zero, it already has established a big name for itself. The Zero SR/F is one of the best setup e-bikes globally. It can reach a top speed of up to 177 kmph and can also do a range of 229 km per charge. Now, with the local premium e-bikes like Ultraviolette F77 taking shape; Zero also wants to see itself in the Indian market. Hence, the Hero-Zero tie-up will open gateways for both manufacturers.
Meanwhile, the SR/F is sold for more than Rs 21 lakh in Europe. However, it won't be as costly as it looks on the global turf; when launched in India. Additionally, heavy localization will lead to the creation of new niches for both brands. The EV sector of India is going to be benefited a lot from this new tie-up; as claimed by the joint venture.
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