The Hero Group, run by the Munjals, have all the reason to start putting considerable focus into electric vehicles. Two of the group’s companies – Hero Electric and Hero Cycles – are leaders in segments that are likely to see significant adoption of electric vehicles in the short and medium term.
The company is also a significant investor in one of the popular electric vehicle scooter startup Ather Energy.
There was a recent announcement by the company that it would be investing big as part of its plans for alternative mobility solutions – investments to the tune of Rs 10,000 crores were mentioned.
While the overall blueprint for the group for such investments are probably being worked out, it should not surprise that the company is considering such plans.
Currently, four broad trends are dominating the discussion when it comes to alternative mobility solutions – shared, connected, autonomous and electric. While the third (autonomous mobility) could be a bit too early for India, we are already seeing rich growth in the other three. And at EV Next we are fairly sure that the Hero Group is exploring all these three avenues as well as part of its big push.