Last Updated on March 4, 2022 by Anu Joy
Hero MotoCorp is finally venturing into the electric scooters and electric motorcycles space. The new EVs will be launched under the Vida brand name and not Hero MotoCorp. An average layman would get confused by hearing this news because Hero Electric has been selling electric two-wheelers for a fair bit of time and has many showrooms across India.
So, why the noise about Hero MotoCorp launching its first electric scooter? And why the need for a new brand Vida? That’s because Hero MotoCorp and Hero Electric are two different companies. Hero MotoCorp is the brand responsible for legendary bikes such as the CD100, Splendour, Passion, and Karizma. The brand Hero Electric is owned by Naveen Munjal, who is the nephew of Hero MotoCorp’s Chairman and CEO, Pawan Munjal.
What’s In A Name?
The Munjal families have been engaged in a legal battle over the use of the Hero brand name. Naveen Munjal’s Hero Electric has apparently taken the matter to the Delhi court over Hero MotoCorp using the brand name for its new electric offerings. Hence, Hero MotoCorp seems to have finally decided to launch a new brand altogether for its EVs till the court passes its judgement or both parties reach an agreement.
Reports suggest that Hero MotoCorp’s first-ever electric scooter will be showcased on July 1, which is also the birth anniversary of the founder of the company, Dr Brijmohan Lall. Vida’s electric scooter will be pitted against the likes of the Bajaj Chetak Electric, TVS iQube, OLA S1, and others in the segment.
Dr Pawan Munjal has also announced a $100 million Global Sustainability Fund. The company says this fund will go towards establishing global partnerships, roping in budding entrepreneurs, and developing sustainable solutions. Also, Hero MotoCorp announced its partnership with a leading Indian oil company, BPCL (Bharat Petroleum Corporation Limited) to establish charging infrastructure in India before its first electric scooter hits the roads.
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