Supply woes make Hero MotoCorp delay EV plan
Premium- While the company initially set the launch date for March, it is now planning to hit the market in the run up to the festivities
Hero MotoCorp has decided to push back the launch of its electric two-wheeler amid the demand slump witnessed in recent times, and a shortage of components, including semi-conductor chips.
While the company initially set the launch date for March, it is now planning to hit the market in the run up to the festivities. “(We) remain committed to bring the best of EVs for our customers. The geopolitical situation has resulted in enormous supply chain issues and shortage of components like semiconductors. Keeping customers as the top-most priority, we feel it will be prudent to unveil the EV in the upcoming festive period instead of July," said Swadesh Srivastava, head, emerging mobility business unit, Hero MotoCorp.
The company had set up its clean mobility unit to roll out the e-scooters under the Vida brand from its facility in Chittoor, Andhra Pradesh.
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Electric two-wheeler sales declined by 20% month-on-month in May following incidents of fire and other battery-related issues.