The partnership will see the two companies co-develop electric motorcycles; Hero will also invest roughly Rs 490 crore in Zero.
In what can only be described as the most stark example of hero going to zero, Hero MotoCorp has announced that it is finalising a collaboration with California-based Zero Motorcycles. Zero is a premium electric bikemaker, which currently offers a lineup of sportbikes, nakeds, ADVs and dual-sport machines. The two companies will co-develop upcoming electric motorcycles.
In addition to this, Hero will also make an equity investment to the tune of $60 million (approx. Rs 490 crore) in Zero. The latter was founded in 2006, and has raised funding upwards of $300 million so far. This investment by Hero is likely to give it a sizeable stake in Zero.
This partnership with Hero represents a third prong in the company’s attack on the EV segment – it has already tied up with Taiwanese e-scooter specialist Gogoro to develop scooters featuring swappable batteries, and it has also developed its own in-house e-scooter which will launch very soon under the Vida sub-brand.
This Zero partnership signifies Hero’s first public interest in the electric motorcycle space, and it will be interesting to see what sort of motorcycles this collaboration spawns. Hero is an established OEM with a vast expertise in the mass-market segment, while Zero is a startup focusing on premium, niche machines.