Hero MotoCorp brings in new brand Vida for emerging mobility solutions; stock plunges ~4%

4 Mar 2022 , 10:30 AM

In its press release, Hero MotoCorp Ltd., the world’s largest manufacturer of motorcycles and scooters, unveiled its new brand Vida, Powered by Hero, a brand-new identity for its emerging mobility solutions, including upcoming Electric Vehicles (EV).

The company introduced the brand Vida, at a one-of-its-kind Carbon Neutral event at the exclusive Clearance Island in Dubai on March 3, 2022. Hero MotoCorp’s Chairman & CEO, Dr. Pawan Munjal, also announced a Global Sustainability fund worth US$100 million.

The fund strives to establish global partnerships, spearheaded by the BML Munjal University and Hero MotoCorp, with a vision to nurture more than 10,000 entrepreneurs on ESG Solutions that have a positive impact on the planet.

Dr. Munjal outlined focused action points for bringing his vision of a flourishing, meaningful world for future generations, to life.

Commenting on the new brand Dr. Pawan Munjal said, “Vida means life, and the brand’s only motive is to make a difference in the world and carry us all forward in meaningful ways. We believe the name is ideal for what we are building for our children and the next generation. This is truly the beginning of something special. Vida platform, products, and services will be unveiled in only 17 weeks from now to make the world a better place.”

Hero MotoCorp was trading on the downside today at Rs2,314.30, down by Rs103.10 or 4.26% against its previous closing price of Rs2,417.70. It touched the day’s high and low of Rs2,403.60 and Rs2,310 respectively so far.