Bikemaker Hero MotoCorp will collaborate and invest $60 million in California-based Zero Motorcycles for developing electric motorcycles. The collaboration will focus on codeveloping Electric motorcycles, the company said in a statement.
“This investment is not a related party transaction. No promoter/ promoter group/ group companies have any interest in the entity in which the investment is being made,” the company said.
The move comes after Hero in January announced an investment of more than $56 million in electric vehicle (EV) start-up Ather Energy — India’s top electric-scooter maker by revenue. Earlier this month, it partnered with state-run Hindustan Petroleum Corp to set up EV charging infrastructure across the country.
Zero Motorcycles is the global leader in electric motorcycles and powertrains. Designed and crafted in California, Zero Motorcycles combines Silicon Valley technology with traditional motorcycle soul to elevate the motorcycling experience for riders around the world.
In keeping with its vision “Be the Future of Mobility”, Hero MotoCorp is addressing the electric mobility space through a range of organic and inorganic /collaboration initiatives and will launch its first electric product, under its emerging mobility brand Vida, Powered by Hero, on October 7, 2022.