MARKETING
Hero MotoCorp, India’s largest two-wheeler manufacturer, is making waves in the sub-₹1 lakh electric two-wheeler (e2W) market with its latest offering, the Vida V2. This move is set to intensify competition in the already bustling segment, as Hero seeks to strengthen its foothold in the electric mobility landscape.
The Rise of Vida V2
The Vida V2, launched in October, has already started to make a mark. As of October 2024, Hero’s market share in the electric two-wheeler space has climbed to 5.25%, up from 1.46% in April this year. The festive season brought an additional boost, demonstrating a steady and promising trajectory for Hero’s e2W ambitions.
Hero’s retail sales numbers also reflect this growth, with the brand selling over 13,000 units in October. These figures showcase a remarkable increase, as overall electric two-wheeler sales in India surged from 65,555 units in April to 1,39,159 units in October 2024.
Learn more about the electric two-wheeler market growth
Key Features of Vida V2
Available in three variants, the Vida V2 is priced competitively, starting at just ₹96,000 and going up to ₹1,35,000. The scooter features battery packs ranging from 2.2 kWh to 3.94 kWh, offering a driving range of up to 165 km on a single charge.
Key highlights include:
- Removable Batteries: Making charging convenient and user-friendly.
- Tech-Driven Features: Advanced cruise control, a top speed of 90 km/h, and an expansive display screen.
- Fast-Charging Capability: VIDA’s charging network includes over 3,100 points across 250 cities, ensuring quick and seamless charging options.
Explore VIDA’s charging network
The Vida V2 competes directly with models like the TVS iQube and Bajaj Chetak 2903, offering a balance of affordability and performance.
Hero’s EV Strategy
With the launch of the Vida V2, Hero is positioning itself as a key player in the e2W market. Niranjan Gupta, Chief Executive Officer of Hero MotoCorp, emphasized that this launch marks a significant milestone in the company’s electric journey, aiming to capture key markets such as Kolkata, Mysore, and Cuttack.
Read Hero MotoCorp’s CEO insights
Hero has also set its sights on further expanding its EV portfolio, targeting to launch affordable EV models by FY26. The company plans to introduce mid-weight premium electric scooters in collaboration with Zero Cycles.
Competition Heats Up
Hero isn’t the only brand making moves in the sub-₹1 lakh segment. Competitors such as Bajaj Auto and Ola are also vying for dominance:
- Bajaj Chetak: The affordable Chetak 2901 was launched earlier this year, priced competitively at ₹70,000.
- Ola Electric: Ola has reduced the price of its popular S1X model to ₹70,000, further adding pressure to competitors in this space.
A Promising Future for Electric Mobility
The Indian electric two-wheeler market is experiencing rapid growth as customers increasingly opt for cost-effective and sustainable transportation solutions. With its competitive pricing, advanced features, and a strong charging network, Hero’s Vida V2 is well-positioned to become a leader in this segment.
As the market evolves, Hero’s strategic focus on innovation and affordability will likely set new benchmarks, making electric two-wheelers more accessible to a wider audience.
Discover more about electric mobility trends