With products, the company wants to take on green rivals such as Ola Electric (backed by Japanese SoftBank), Okinawa, Bounce, and hero Apart from Electric, Ather where Hero Moto is also the largest financial investor.
Apart from the entry-level Vida V1 Plus, which has a top speed of 80 kmph and a single charge of 143 km, the other scooter with a bigger battery is the V1 Pro which has a range of 165 km and is priced at Rs. 1.59 lakh.
The company’s chairman and CEO Munjal said the scooter has been developed by the R&D teams at Hero Moto and its design center in Germany, and will be followed by other products, some of which will be more affordable and mainstream.
“We are starting with a premium product, but that doesn’t mean we will never have a more affordable product in terms of pricing. Of course, we will have one going forward,” he added. The products are also targeted at Asian, European and Latin American markets.
Vida, which will include all of the group’s sustainable products developed in partnership with Taiwanese Gogoro and US-based Xero Motorcycles, will begin with three cities – Delhi, Bangalore and Jaipur – after which its footprint will expand to eight more. cities.
Munjal, who is locked in a legal dispute with his nephew Naveen Munjali On the use of the Hero brand name for its green products, it said the company will initially showcase the products through company-owned experience centers in three cities, though they will be available at select Hero dealerships through specially made pods. There are also plans to do retail.
The scooter’s battery, whose deliveries start from the second week of December, is removable and can be charged at home apart from a dedicated charging network set up by the company. Munjal said the company is also looking at sharing the network with Ather.
The company, which currently faces stiff competition in its conventional petrol-products business, said it plans to offer a buy-back scheme at 70% of the purchase price between 16 and 18 months, besides subsidies for those buying electric. planning to provide financing. of vehicle ownership.