The country's largest two-wheeler maker Hero MotoCorp is all set to foray into the electric segment next month with the launch of its first model in the domestic market.
In a regulatory filing, the company said that "a new era in mobility is about to begin" alluding to an event under its Vida brand on October 7, 2022.
The two-wheeler major has issued invites to its dealers, investors and global distributors for the event to be held in Jaipur, Rajasthan.
Industry sources confirmed that the company will launch its first EV product at the event.
In March this year, Hero MotoCorp had said it has lined up a USD 100 million (around ₹ 760 crore) global fund to nurture over 10,000 entrepreneurs on ESG (environmental, social and governance) solutions, including its upcoming electric vehicles (EVs).
Sources said the company has developed the product at its Jaipur-based R&D hub, the Centre of Innovation and Technology and will utilise its Chittor-based manufacturing facility in Andhra Pradesh to roll out the product.
It is worth mentioning that Hero MotoCorp filed multiple trademarks for the name ‘Vida’ back in November 2021. The two-wheeler giant filed trademarks for Vida Electric, Vida Mobility, Vida EV, Vida MotoCorp, Vida Scooters, and Vida Motorcycles. Now, Vida is the official brand under which Hero MotoCorp will introduce its new initiatives for emerging mobility solutions and sell electric two-wheelers in the Indian market.
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