Hero MotoCorp has announced that it is finalizing a partnership with California-based Zero Motorcycles to develop electric bikes jointly. Zero Motorcycles, a high-end electric bike manufacturer established in 2006, currently has a lineup of sportbikes, naked bikes, ADVs, and dual-sport vehicles.
The Hero will also contribute USD 60 million (about Rs 490 crore) in equity to Zero Motorcycles, a startup that has already raised more than USD 300 million. Due to this investment, the Hero will probably own a sizable portion of Zero.
Hero has already partnered with Taiwanese e-scooter expert Gogoro to develop scooters with swappable batteries. It has also developed its in-house e-scooter, launching under the Vida sub-brand very soon. With this partnership, Hero is expanding its attack on the EV market.
It will be intriguing to watch what kind of models come out of this agreement, which marks Hero’s first public involvement in the market for electric motorcycles. Hero is a well-known manufacturer with extensive experience in mass-market space, whereas Zero is a startup specializing in high-end devices.