Hero MotoCorp, a well-known two-wheeler manufacturer, is prepared to launch electric models in the mid- and low-cost EV market sectors in FY25, with high expectations for the upcoming years.
New launches from Hero MotoCorp
The company is preparing to launch the Xoom 125 cc and Xoom 160 cc models in the first half of the current fiscal year as part of an effort to expand its scooter portfolio. Hero MotoCorp is setting the stage for future growth acceleration with a comprehensive plan that includes new product launches, the expansion of new retail formats, digital transformation, and infrastructure upgrades. Supported by government spending and favorable macroeconomic conditions, it predicts a positive future for the sector.
Due to the strong sales performance of its Splendor and Passion models, the motorbike giant surpassed forecasts and turned a profit during the last quarter of the previous fiscal year. Hero MotoCorp continues to hold a significant market share with sales of 13.92 lakh motorcycles and scooters in Q4/FY24, up from 12.70 lakh units in Q4/FY23 and a total of 56.21 lakh units sold in FY24.
In an effort to broaden its worldwide reach, the company is forming Hero MotoCorp do Brasil, a fully-owned subsidiary in Brazil tasked with producing and distributing its two-wheeler vehicles.
