Gogoro and Hero are getting into a joint
venture and will be swapping technology and infrastructure to produce
Gogoro-powered electric Hero two-wheelers.
According to Pawan Munjal, Chairman, Hero
MotoCorp, electric vehicles have become the number one priority for Hero as it
does not offer fully electric models right now. He added that the joint venture
will help Hero take its product across the country first and then across the
world. Munjal further added that since they know the customers, landscape, and
well, they can move very fast in the production process.
The company has not shared specifics like sales
target, timeline, and the number of battery swapping stations as of now.
Gogoro is a Taipei-based brand that is
partially funded by Japan’s Sumitomo and Singapore’s Temasek investors. It is known for its battery distribution network
for riders and has also produced motorcycles in Taiwan. It is to be noted that
the brand has recently launched battery-sharing infrastructure in Japan and
scooter-sharing services in Europe.
In an industry that is dominated by affordable
petrol scooters, launching fully electric models can be a challenge. According
to Gogoro, the partnership with Hero will help bring down supply-chain
complexities and the final price of the product.