Working on several EV projects; need cautious, realistic roadmap from govt: Hero MotoCorp

The country's largest two-wheeler maker Hero MotoCorp is working on several electric vehicle projects even as it has asked the government for a more cautious, clear and realistic roadmap towards the adoption of such technology in the country. In a message to shareholders, Hero MotoCorp Chairman Pawan Munjal said in the company's Annual Report for 2018-19 that the company is fully geared up for the EV challenge.

"The entire world is adopting the global mobility trends of electrification (EVs), shared mobility and connected two-wheelers. The company is working on several EV projects and is fully geared up for this challenge," Munjal said. The company has made a sizeable strategic investment in the electric two-wheeler manufacturer Ather Energy, which has already launched a range of electric scooters, he added.

"Hero MotoCorp intends to enhance its participation in the EV space by pursuing its internal EV program in addition to partnering with Ather," Munjal said. The company has an ongoing project exclusively dedicated to developing EVs at its Centre of Innovation and Technology (CIT) in Jaipur.

Munjal said the company appreciates and whole-heartedly supports the government's vision of a more sustainable and environment-friendly future. "We, therefore, propose a more cautious, clear and realistic roadmap towards the adoption of EVs. The scale and timing of the adoption need prudent deliberations and we will gladly support all stakeholders in this process," he added.

Munjal said the two-wheeler industry continues to grapple with slowdown and one significant step which government could take to revive sales would be the removal of two-wheelers from the highest GST slab of 28 percent to 18 percent slab. "This will help revive the industry, which in turn, will help in bringing the economy back on track," he added.