NEW DELHI: Amid the ongoing fight with electric vehicle maker Hero Electric over the use of the “Hero” brand name, India’s largest two-wheeler maker Hero Motocorp on Friday launched a new brand for its segment of electric vehicles.
Vida, powered by Hero, is a new identity for Hero Motocorp’s emerging mobility solutions, including upcoming electric vehicles (EVs). The launch of the new brand comes as the automaker prepares to unveil its first electric vehicle on July 1, 2022. Production of the new Vida model will take place at Hero MotoCorp’s manufacturing facility in Chittoor. Customer shipments will begin later in 2022.
Hero Electric’s Vijay Munjal and his son Naveen Munjal of Hero Electric had moved the Delhi High Court last year against his cousin Pawan Munjal of Hero MotoCorp, seeking an injunction against Hero MotoCorp using the brand name for its upcoming two-wheeled electric products . Recently, the Delhi High Court asked the family members to settle the dispute through arbitration.
Commenting on the launch of the new brand, Pawan Munjal, Chairman and CEO of Hero MotoCorp, said, “With the creation of ‘Vida’, we will offer everyone the opportunity to thrive, grow and live better while continuing to move as he wishes. I will lead this initiative head-on.
While Hero MotoCorp will be a late entrant to the fast-growing electric two-wheeler market, as rivals Bajaj Auto and TVS have already started selling electric vehicles, it is likely to benefit from the ecosystem it has. implemented in recent years. Hero MotoCorp owns about 38% stake in Bengaluru-based Ather Energy (one of the fastest growing new era electric vehicle makers).