- 10 Oct 2022
- ICICIdirect Research
Hero launches first E-2WHEROMOTOCO - 2315 Change: 1.80 (0.08 %)
The company launched its maiden captive offering in the electric vehicle space i.e. Vida V1 available in two variants i.e. Vida Vi Pro and Vida V1 Plus. Vida V1 Plus (battery size: 3.44 kwh) is priced at Rs1.45 (ex-showroom) while Vida V1 Pro (battery size: 3.94 kwh) is priced at Rs1.59 (ex-showroom) with certified range of 143 kms & 165 km, respectively.
The company through Vida V1 is focusing on a top down approach and is focusing on premium electric scooter space. It will gradually target the lower end space also. Vida Company’s unique offering includes 70% assured buyback value within 16-18 months and three days trial period for customers. The company will launch it first in three cities i.e. Delhi, Bengaluru & Jaipur and slowly expand to eight more cities. We believe the company’s offering is at a premium price to competition with more or less similar feature profile. It will be difficult to clock sizeable volumes in this domain even in FY24E.