Hero MotoCorp, the largest two-wheeler manufacturer in the nation, announced on Thursday that it is negotiating a partnership deal with an American electric vehicle manufacturer to work together to produce electric motorbikes, likely for the Indian market.
The co-development of e-bikes will be the main emphasis of Hero MotoCorp’s partnership with California-based Zero Motorcycles. According to the firm, Zero produces high-end electric bikes and powertrains.
Zero is a “global leader” in its industry, it was further said.
According to the statement, Hero MotoCorp would invest up to $60 million in the 16-year-old American OEM.
The news is made soon before the company’s new mobility brand Vida unveils its first electric scooter. On October 7, Hero will introduce the item and spell out its strategies for competing in India’s booming electric mobility sector.
Hero MotoCorp also collaborates with the Taiwanese battery sharing business Gogoro, and the two organisations are anticipated to introduce a solution with interchangeable batteries early in 2019.
Additionally, it holds a significant investment in Ather Energy, one of India’s most renowned two-wheeler OEMs.
Premium electric motorcycles made by competitor TVS Motor Company-backed firm Ultraviolette may compete with Hero MotoCorp & Zero Motorcycles’ offering.