Hero MotoCorp looking at wider product canvas beyond 2Ws for micro mobility solutions: Chairman

Milan, Nov 6 (PTI) Indian two-wheeler major Hero MotoCorp is looking at a wider canvas of products beyond bikes and scooters as it seeks to position itself as a micro mobility solutions provider going ahead, according to its Executive Chairman Pawan Munjal.

The company, which unveiled a micro electric four-wheeler, NEX 3, under the new 'Novus' range from its emerging business unit VIDA, among other products, is, however, not looking at entering the mini electric car segment, Munjal told PTI in an interview here.

"If you are wanting me to say that we will be getting into cars, I'm not committing to that. But yes, micro mobility solutions for sure," he said on the sidelines of the global two-wheeler exhibition EICMA 2025 here.

Munjal was responding to a query on whether Hero MotoCorp has plans to enter the small electric car segment.

Elaborating on the company's strategy for the road ahead, Munjal said, "The next phase is going to have a much wider canvas. If we were only focusing on motorcycles and scooters, then we would be pushing volumes." He further said, "Now, we are providing newer, different mobility solutions, and the focus will be on creating, providing (solutions), very apt as required by times going ahead, as required by individuals, personal needs, personal requirements going ahead.

"It's going to be a very wide canvas of different concepts, different products. The focus may not be just numbers." Noting that mobility is not just motorcycles, scooters, three-wheelers and four-wheeled cars, Munjal said, "We now want to create devices and innovate the future of mobility." He said right now the focus of VIDA Novus micro mobility solutions, "is on Europe, but we know that a number of these concepts can also be taken back home to India".

While the company has not set a timeline for its commercial rollout, he said, "...but there is a clarity in everyone's mind that we definitely are going to go ahead." Hero MotoCorp showcased three products under the VIDA Novus range -- NEX 1, a portable, wearable micro mobility device; an electric trike, NEX 2 and NEX 3, a micro electric four-wheeler, besides other products at EICMA.

On the company's global market expansion, Munjal said after beginning international expansion with markets in South and Central America, Africa and South East Asia, the company is now ready to enter Europe, which it had put on hold along with the US entry.

"Now that the market has also moved to electrification (in Europe), we thought this is the right time to enter with VIDA VX2 and a couple of high-end ICE models," he noted.

Irrespective of tariffs, Munjal said Hero MotoCorp will expand in Europe.

"We will go with products which people would want, with whatever tariff, whatever cost, they would definitely want to buy those products. Once the tariffs become favourable, then clearly, volumes will start growing," he added.

On the US market, where the company acquired a stake in Eric Buell Racing in 2013 to work together for new products and distribution, but went bankrupt, he said as a consequence of that, Hero MotoCorp had put on hold its entry plans.

"We had taken a pause on both the US and the European markets. Now that we've come into Europe, we will let it settle for some time, and then once we are ready, we will move into the American market," Munjal noted, without putting a timeline.

When asked about the expected contribution of international sales to Hero MotoCorp's overall volumes in the next five years, Munjal declined to share an exact figure, but the company is working towards meeting its earlier stated goal when the brand Hero was launched in 2011 after separation from its erstwhile long-time partner Honda.

"I had then said 10 per cent of our overall sales volume would come from global business. Unfortunately, that did not follow through. Our global business has taken longer for us to come to a healthy state, and now, I can confidently say that we are getting there," he asserted.

Hero MotoCorp had set an ambitious target of 10 per cent of annual sales from export markets, at around 10 lakh units, by 2017.

At present, global sales account for 6 per cent of the company's total sales. In 2024-25, the company sold a total of 59 lakh units. PTI RKL SHW