We plan to launch EVs using both types of charging systems next year. We will start with the fixed charging stations including fast and slow charging systems, and gradually we will also have battery-swapping options for the customers "
- Niranjan Gupta, chief financial officer, Hero MotoCorp Ltd
Ahead of its electric vehicle (EV) launch next year, Hero MotoCorp Ltd, India’s largest two-wheeler manufacturer, is planning to offer to the customers a flexible charging ecosystem that will include fixed stations and battery swapping units, a senior company executive said on Friday.
“Our R&D centers in Germany and Jaipur are working on EV programmes that include the development of fixed charging systems. With the help of our partner Gogoro, we will also bring the battery swapping systems (to India). Both will work in parallel and allow us to play in both the EV charging systems,” Niranjan Gupta, chief financial officer, Hero MotoCorp Ltd, said in a call.
Last month the Pawan Munjal-led company signed a strategic partnership with Taiwan’s leading EV player Gogoro, which has a network of more than 2,000 battery swapping stations. Hero MotoCorp forged the alliance to introduce Gogoro’s battery swapping stations in India while developing EVs using the detachable battery technology.
“Whether it will be a capital intensive or a franchise model, I won’t be able to comment as the business model is being worked out. Some parts of Gogoro charging systems can be built into our own fixed charging systems as well,” Gupta said.
The company is accelerating its EV plans for the domestic market, and in alliance with Gogoro it is bringing sustainable charging solutions, he said.
“We plan to launch EVs using both the types of charging systems next year. We will start with the fixed charging stations including fast and slow charging systems, and gradually we will have battery swapping options for the customers,” Gupta said.
A dedicated team is working on Hero’s EV plans under the company’s emerging mobility business unit, which was created two years ago.
Gupta said the team is working on all aspects of the EV business model including sourcing, manufacturing, marketing and sales, among other areas.
Last fiscal the company invested an additional INR 174 crore in the Bangalore-based electric scooter startup Ather Energy and increased its equity stake to 34.81%.
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