Shares of Hero MotoCorp NSE -3.48 % slid 4.3 per cent in early trade on Thursday after the two-wheeler giant deferred the launch of its first electric two-wheeler on account of supply constraints amid geopolitical tensions.
The automobile major had earlier announced that its EV, under the ‘Vida’ brand, would be launched in July.
Hero Motocorp’s scrip fell to a low of Rs 2,640 as against Rs 2,758.55 at the previous close on the BSE. The stock was last trading 2.4 per cent lower.
The company said its customer-centric approach, combined with the shortage in availability of key manufacturing components, has forced it to postpone the EV launch till the “festive season” later this year, reports said.
