Hero Moto Corp postpones EV launch
The company said supply chain issues and parts shortage were reasons for the postponement
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.
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