Hero MotoCorp Reduces Price of Its Electric Scooters Vida V1 Pro and V1 Plus to Give Competition to Ola Electric

Hero MotoCorp, one of the leading two-wheeler companies, has reduced the prices of its electric scooters Vida V1 Pro and V1 Plus. This is likely to increase the demand for the company’s electric scooters. With this decision of Hero Electric, Ola Electric, the largest company in this segment, can get a tough competition.

VIDA V1 Pro will be priced at Rs 1,39,900 and V1 Plus at Rs 1,19,000 (ex-showroom). This includes the cost of the portable charger and the Fame II subsidy. However, there may be some change in the prices depending on the subsidy given by the states. Both these electric scooters have a similar design and have two removable batteries. The V1 Pro packs a 3.94 kWh battery and a range of 165 km, while the V1 Plus packs a 3.44 kWh battery and a range of around 143 km. The company has started pre-booking of these electric scooters in eight more cities. Hero MotoCorp plans to take them to 100 cities by the end of this year. The company will use its large dealership network for this.

Hero MotoCorp plans to expand its Electric Vehicles (EV) range over the next few months. Last year, the company launched its first electric scooter Vida V1 in two variants. The company plans to launch electric two-wheelers in various price segments. Recently, Hero MotoCorp’s Head (Emerging Mobility Business Unit), Swadesh Srivastava told an analyst call that the company has increased the pace of its plans for EVs. Under this, new electric two-wheelers will be launched in various segments. The company plans to launch electric scooters as well as motorcycles.

Sales of electric two-wheelers have increased in the last few years. However, Hero MotoCorp has delayed its entry into the segment, which has benefited startups like Ather Energy and Ola Electric. Ola Electric has a market share of about 40 percent. Hero MotoCorp had invested in a few electric vehicle startups before launching its first model in the segment. E-scooters and e-bikes account for a little over two per cent of the total two-wheeler sales in the country.