Hero MotoCorp Ltd. is developing hybrid technologies with the long term in mind, given the automotive industry’s swift transition to alternative powertrain technologies in order to reduce operating costs and emissions.
“The market will continue to see alternative powertrain technologies. As you know, there is ICE and there is EV, where the industry is doubling down. We are working on flex fuels, ethanol-based fuel technology. In the long term, there are hybrid technologies also being worked on,” CEO Niranjan Gupta said.
Gupta’s comments came when asked about the potential of compressed natural gas (CNG) powertrains in the market and whether the company has any plans the same in the medium term.
Recently, the industry saw CNG being introduced as a new powertrain option. Bajaj Auto became the first two-wheeler maker to introduce a CNG-powered model, while TVS Motor also has plans to launch a CNG-powered scooter.
Hybrid technology, with which the vehicles run on a combustion engine and an electric motor, is not very popular in the two-wheeler segment here, in India. Hybrid technology combines a traditional internal combustion engine with an electric motor and a battery pack in a vehicle to provide improved fuel efficiency and lower emissions.
Unlike the passenger vehicle segment, this technology is not popular in the two-wheeler industry. Except for Yamaha Motors, no other two-wheeler maker has introduced a hybrid vehicle in the market in the country. Yamaha’s Fascino 125 cc scooter comes with hybrid technology. Royal Enfield has also learned to have been working on hybrid technologies.
Hero MotoCorp is working on multiple powertrain technologies, as the management believes that a mix of a few powertrains may work in the long run. “We are also working on improving the fuel efficiency of our products. Everything is around making the operating cost more efficient and greener fuel, that is around the entire powertrain technology,” Gupta told investors.
Hybrid technology has become very popular in the passenger car segment lately. The momentum behind hybrid cars continues to build up, with sales eclipsing those of electric vehicles in recent months. Recently, Uttar Pradesh started offering a 100% waiver on road tax for strong hybrid cars.
Meanwhile, Hero MotoCorp is doubling down on its electric vehicle business under the Vida brand, with a plan to expand its portfolio this year to four models from the current two offerings. One of the scooters is likely to be in the affordable range, while the other could be in the mid-segment.
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