The company has an agreement with Gogoro Inc. of Taiwan. The partnership is set to bring the Taiwanese company’s battery interchange system to India
Mumbai: Hero MotoCorp, the country’s leading two-wheeler maker, is planning to launch electric models next year. This information was given by a senior official of the company. The company is excited about the electric vehicle. For this, it is considering setting up its own products at R&D centers in Jaipur (Rajasthan) and Stephenskirchen (Germany).
In addition, the company has entered into an agreement with Gogoro Inc. of Taiwan. The partnership is set to bring the Taiwanese company’s battery interchange system to India. Under the partnership, the two companies have agreed to cooperate in the development of electric vehicles.
“We are trying to bring electric vehicles to market in 2021-22. We can bring our own product or product together with Gogoro,” Niranjan Gupta, chief financial officer (CFO) of Hero MotoCorp, told analysts.
The two-wheeler maker has already invested in EV (electric vehicle) startup Athar Energy in Bangalore to use the sector. The company has already launched the product in the market.
Regarding the company’s strategy for electric vehicles, Gupta said the company’s R&D centers in Germany and Jaipur are working to develop products based on fixed charging systems. “On the other hand, under the Gogoro partnership, we are looking at swapping systems,” he said.
Gupta said, “We think the two companies will work together. Given the demand and available infrastructure, our own program will be based on static charging and with Gogora we will work on a model of interchange system. This will allow us to work in both areas.”
Replying to a question, Gupta said, “The epidemic has not affected the companies’ plans to introduce the product. We are doing all the things we need to do in order to come up with a new plan. Hero Moto Corp. And sold scooters.