Hero Moto Corp postpones EV launch

The company said supply chain issues and parts shortage were reasons for the postponement

Autocar Pro News Desk By Autocar Pro News Desk calendar 01 Jun 2022 Views icon7010 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Buyers will have to wait till the festive season for the Vida

Buyers will have to wait till the festive season for the Vida

India’s leading two-wheeler maker said it has decided to postpone its launch of the Vida to after the festive season.

In a statement, the company’s head of  Emerging Mobility Business Unit, Swadesh Srivastava  said,” The ongoing geopolitical situation has resulted in enormous supply chain issues and shortage of various components, including semiconductors. Keeping customers as the top-most priority. We, therefore, feel it would be prudent to unveil the first EV product around the upcoming festive period instead of July as earlier announced.”

Hero Moto Corp’s domestic sales during the month increased to 4,66,466 units against a low base of 159,561 units in May 2021, the company said.  However, sales were up 16 percent over April when the company sold 418,622 units.  It dispatched 183,044 units in April 2021 when sales were significantly impacted due to the resurgence in Covid-19 cases and subsequent lockdowns.

For now, the Met office has predicted a normal monsoon which is good news for the two-wheeler segment whihc has borne the brunt of the Covid, with sales on entry-level bikes taking a beating. Hero Moto Corp will hope that good rains and an easing of the chips issue will enable it to bring the product to market.

RELATED ARTICLES
Dr Anish Shah: ‘By 2031, Indian GDP will add as much to the global GDP as the entire EU’

auther Autocar Pro News Desk calendar23 Feb 2024

Representing India’s business world at ABP Network’s ‘Ideas of India’ Summit 3.0, the Mahindra Group CEO and MD, and Pre...

Sona Comstar first component supplier to receive auto PLI certification

auther Autocar Pro News Desk calendar23 Feb 2024

Sona Comstar, which is one of the largest manufacturers of EV traction motors in India, gets the PLI certificate for its...

Yulu raises Rs 160 crore in fresh funding from Magna and Bajaj Auto

auther Autocar Pro News Desk calendar23 Feb 2024

The infusion will enable shared electric two-wheeler mobility company to quickly cater to the spurt in demand for its sh...