Hero MotoCorp’s recently announced strategic partnership with Taiwanese company Gogoro Inc. can be considered one the most significant steps taken by the management in the last few years. It could help the firm stay relevant in the competitive two-wheeler market in the coming years. The partnership will help Hero establish a network of lithium-ion battery-swapping stations in India for two-wheelers and the two companies will also jointly develop electric vehicles, a segment in which Hero is lagging compared with Bajaj Auto, TVS Motor Company and some startups.
Also, entry-level two-wheelers, where Hero is the market leader, is expected to be the first segment to switch over to electric in the coming years, according to experts.
