Hero MotoCorp plans to develop portfolio of premium motorcycles over next 2 years

30 Aug 2023 , 09:22 AM

Hero MotoCorp, the country’s largest two-wheeler manufacturer known for its entry-level bikes, plans to develop a portfolio of premium motorbikes and scooters over the next two years.

CEO Niranjan Gupta said that expanding the company’s footprint in the premium two-wheeler category is a top objective. The Splendor and Passion models from Hero MotoCorp dominate the country’s entry-level motorbike market.

Gupta stated that a higher portion of the Rs 1,000 crore the firm has set aside for annual investment will be used to create premium and electric vehicles in order to boost the company’s footprint in these two categories.

The CEO, addressing on the sidelines of the 210cc Hero Karizma motorcycle launch, stated that the business will continue to strengthen its position in the premium segment with various releases over the next four to eight quarters. The Hero Karizma costs Rs 172,900 (ex-showroom).

Motorcycles under 125cc accounted for more than 90% of Hero MotoCorp’s sales in FY23, accounting for 4.73 million units. In recent years, the company has formed alliances with Harley-Davidson and California-based Zero Motorcycles to expand its presence in the luxury segment.

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