India’s leading two-wheeler manufacturer Hero MotoCorp has announced the next step in its partnership with American electric motorcycle firm Zero Motorcycles. Having made a substantial $60 million (approx. Rs 490 crore) equity investment in the California-based company in 2022, Hero had confirmed its decision to co-develop electric two-wheelers with Zero, earlier in 2023. Now, Hero MotoCorp has revealed it will be introducing the Zero Motorcycles portfolio in the Indian market, and Zero’s models will also be manufactured in the country.
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Zero makes a variety of high-quality electric motorcycles, equipped with battery packs ranging from 7.2 kWh to 17.3 kWh of installed capacity.
‘We will be bringing the Zero portfolio into India, increasing access for the Indian consumer to the best of international clean mobility options. California-headquartered Zero will be manufacturing its products in India too’, read a statement from Hero MotoCorp in its annual report. The statement goes on to outline how the partnership enables the marriage of Zero’s expertise in building electric two-wheelers with Hero’s manufacturing, sourcing, marketing and distribution capabilities.
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Zero’s model line-up, which is currently only manufactured at the company’s facility in Scotts Valley, comprises dual-sport models, naked bikes, an adventure-tourer as well as a fully-faired sport bike. All motorcycles employ battery packs ranging from 7.2 kWh to 17.3 kWh, with price tags ranging from $13,000 to $25,000 (before local incentives), which translates to Rs 10 lakh to 20 lakh in India’s currency.
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It is unclear at this stage which of Zero’s existing models will make it to India, and where they will be built. It also remains to be seen if Hero opts to pursue a hybrid model strategy with Zero like it does with Harley-Davidson, where most models are sold in India as direct imports, with the exception of the new, locally-developed (and manufactured) Harley-Davidson X440.
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At present, the only other company selling a performance-oriented electric motorcycle in India is TVS-backed Ultraviolette Automotive.
Even if the current Zero portfolio is localised, the bikes would still be pretty expensive owing to their large battery packs. It is quite likely that Hero may co-develop a more accessible Zero electric motorcycle, which could also help Zero tap into other developing markets. At present, the only other company building an expensive electric motorcycle in India is TVS-backed Ultraviolette Automotive, which makes the F77 sport bike.
Hero MotoCorp also holds a 35 per cent stake in Ather Energy, one of India’s most prominent electric two-wheeler manufacturers. However, its own maiden offering in the battery-powered two-wheeler space, the Vida V1, is yet to take off. Launched late in 2022, the V1 is yet to reach many Indian cities, and a little less than 2,900 units have been sold so far in 2023, as per the latest VAHAN registration data.
