Hero MotoCorp to Launch 2 Affordable Electric Two-Wheelers in H1 FY26

In a bid to scale up volumes and gain market share in the electric two-wheeler space, Hero MotoCorp is gearing up to launch two affordable electric two-wheelers in the first half of the current financial year 2026.

“We are planning two new affordable products in the first half, most likely in July. That will help us accelerate our growth and gain market share,” Hero MotoCorp’s senior management told investors on Wednesday.

The automaker sells electric vehicles under the Vida brand, and its product portfolio consists of one model, the V2, with three variants – V2 Pro, V2 Plus, and V2 Lite. The ex-showroom price of the current portfolio ranges from Rs 74,000 to Rs 1.15 lakh.

“Very shortly, we will be launching an upgrade, which will be far better in terms of value proposition to customers, addressing basic customer requirements across the segment. It will be launched in July,” the management noted.

Earlier this year, Autocar Professional had exclusively reported that a new model is being developed under the project called ACPD, which should lower the price point further and bring it closer to ICE scooters in the market.

The company is currently producing around 7,000 electric vehicles a month. With the Vida V2 and ACPD, the lower-cost version, Hero MotoCorp is looking at a combined volume of 13,000–15,000 units per month, with plans to scale it up to 20,000 units by the festive season of 2025, sources said.

Hero MotoCorp last year unveiled its second new model – the Vida Z – which is expected to be launched this year. The Vida Z will be the first product that Hero MotoCorp will sell in the UK and Europe.

In the financial year 2025, Hero MotoCorp dispatched a total of 58,503 units, up from 19,805 units in the financial year 2024. Retail data shows that the company sold 48,674 units, up from 17,720 units.

Meanwhile, Hero MotoCorp is aiming to break even in its electric vehicle business in a couple of years, with an average monthly sale of 25,000–30,000 units.