Hero MotoCorp, the world's largest two-wheeler manufacturer, announced on Monday that it has approved a collaboration agreement with Zero Motorcycles, based in the United States, to develop premium electric motorcycles. According to a statement from Hero MotoCorp, the nation's largest two-wheeler manufacturer, the partnership combines Hero MotoCorp's size in production, procurement, and marketing with Zero's expertise in designing power trains and electric bikes.
Hero MotoCorp's board of directors approved an equity investment of up to USD 60 million in Zero Motorcycles, a leading player in electric motorcycles and powertrains, in September 2022.
"Our partnership with Zero Motorcycles is a significant milestone in our journey towards ushering in an era of sustainable clean technology in the mobility space. With Zero as our partner, we look forward to accelerating the transition of electric mobility in India and across our global markets," Hero MotoCorp Chairman & CEO Pawan Munjal said.
The VIDA V1 scooter is the company's first foray into the electric scooter market. In addition, Hero MotoCorp has begun operations of its public charging infrastructure in Bengaluru, Delhi, and Jaipur. It has already installed nearly 300 public charging stations across the three cities.
The companies are committed to transforming the riding experience and bringing remarkable, innovative products to the world, according to Zero Motorcycles CEO Sam Paschel.