NEW DELHI: Amidst the on-going tussle with electric vehicle maker Hero Electric over the use of the brand name ‘Hero’, India’s largest two-wheeler manufacturer Hero Motocorp on Friday launched a new brand for its electric vehicle segment.
Vida, powered by Hero, is a new identity for Hero Motocorp’s emerging mobility solutions, including upcoming Electric Vehicles (EV). The new brand launch comes as the manufacturer is getting ready to unveil its first EV on July 1, 2022. The production of the new Vida model will take place at Hero MotoCorp’s manufacturing facility in Chittoor. Dispatches to customers will begin later in 2022.
Vijay Munjal and his son Naveen Munjal of Hero Electric had moved the Delhi High Court last year against his cousin Pawan Munjal of Hero MotoCorp, seeking an injunction on Hero MotoCorp using the brand name for its upcoming electric two-wheeler products. Recently, the Delhi High Court asked the family members to settle the dispute through arbitration.
Commenting on the new brand launch, Pawan Munjal, chairman and CEO of Hero MotoCorp said, “With the creation of ‘Vida’ we will offer everyone the opportunity to thrive, grow and live better while continuing to move the way they want. I will lead this initiative from the front.”
While Hero MotoCorp will be a late entrant in the fast growing electric two-wheeler market as rival companies Bajaj Auto and TVS have already started selling EVs, it is likely to benefit from the ecosystem it has established in the last few years. Hero MotoCorp owns around 38% stake in Bengaluru-based Ather Energy ( one of the fastest growing new age EV makers).
Source: newindianexpress.com
