On Thursday, Hero MotoCorp said that it would invest USD 60 million in California-based Zero Motorcycles to develop electric motorcycles jointly. The Indian bikemaker seeks to expand its presence in the green mobility space.
Hero MotoCorp said that Zero is a ‘global leader’ in powertrains. The company said it would launch its first electric product under its emerging mobility brand Vida on October 7.

In January, Hero MotoCorp announced an investment of more than USD 56 million in electric vehicle (EV) start-up Ather Energy, India’s top electric-scooter maker, by revenue. The said move f the company is in line with the its stated vision.

Earlier in September, it partnered with state-run Hindustan Petroleum Corp to set up EV charging infrastructure across the country.

Founded by Brijmohan Lall Munjal in 1984, Hero MotoCorp Limited is a multinational motorcycle and scooter manufacturer. Headquartered in New Delhi, Hero is one of the largest two-wheeler manufacturers in India and the world.

It has a market share of about 37.1 per cent in the two-wheeler industry. As of now, the market capitalisation of Hero stands at Rs 59,600 crore (USD 7.5 billion).