World's largest two-wheeler manufacturer, Hero MotoCorp, on 10th August celebrated the 10th Anniversary of its independent operation after the split with Japanese automaker Honda.
Highlighting the company's expansion and success over the years, Pawan Munjal, Chairman, Hero MotoCorp, also reflected on the next ten years.
Munjal spoke on how the company plans to transform itself into a more technology-agnostic sustainable organisation and also what Hero MotoCorp, with a presence in more than 42 countries, eight plants and two R&D centres, have in store for its consumers, investors, and business partners.
Mobility Outlook lists down the top 10 key takeaways of Hero MotoCorp's plan for the next ten years.
1. Entry in electric two-wheeler space: The company teased its first electric scooter during the celebration and aims to focus on electrification of its fleet in the next ten years.
2. Modular EV in the pipeline: Hero MotoCorp's incubator Hero Hatch is currently working on a modular vehicle that can transform into an e2W from an e3W and vice versa with a touch of a button. This will be a first of its kind vehicle. The inspiration behind the vehicle is a horse vehicle. A horse can be attached to a cart or can be ridden alone. 'The future is going to be Electric, Collaborative and Modular,' said Munjal.
3. Global collaboration: Hero is also focusing on global collaborations for the coming decade. One of the company's collaborations has recently been done with Gogoro Inc., the Taiwan based EV startup with the largest EV battery swapping network.
4. Work on fast chargers and battery swapping network in tandem: While the two-wheeler manufacturer plans to bring Gogoro products along with the battery swapping network, it is also working on fast chargers.
5. Alternative Fuels: The company plans to reduce dependency on fossil fuels by looking for alternatives such as hydrogen, solar, and wind power.
6. Carbon neutral dealership: The company aims to move 100% product recyclability along with carbon-neutral dealerships by 2030.
7. Digitalisation is key: The company aims to sell 30% of its vehicles via digital channels by 2030.
8. Global focus: Apart from bringing EV products in the domestic market, it also plans to launch its EVs in 20 global markets, as it aims for a 15% contribution of total sales to come from international markets by 2025.
9. Environmental sustainability: Hero MotoCorp is the only two-wheeler manufacturing company listed on the Dow Jones sustainability index as it continues to focus on sustainability, care for the environment, and support the communities. Apart from having green manufacturing facilities and fuel-efficient vehicles, it targets to be water positive, carbon-neutral, and stop single-use plastics in the coming decade.
10. Diversity and inclusion: With the rapid expansion over the last ten years, the company has focussed on diversity and inclusion. It believes in equal opportunity employment, i.e. all sections of the society receive a fair opportunity for gainful employment.