Hero MotoCorp to build 100 premium stores by June-end, says CEO Niranjan Gupta

While discussing the company's Q2 sales, Gupta said the company will start with 10,000 units a month for both Karizma and Harley Davidson X440 and this will be augmented further going forward

Hero MotoCorp has opened three premium stores and plans to launch 100 such stores by the end of June 2024, CEO Niranjan Gupta said in an interaction with CNBC-TV 18. "The first 6-7 months of our revamp journey have been great," said Gupta.

"We are launching a 440 CC platform in March. Have 25,000 bookings for X440 and more than 10,000 bookings for Karizma," he added.

While discussing the company's Q2 sales, Gupta said, "We will start with 10,000 units a month for both Karizma and Harley Davidson X440 and this will be augmented further going forward. Our goal is to secure a significant market share and succeed in this premium journey."

Infrastructure building is happening at a rapid scale whether it is dealers, or it is cities, or charging, and therefore all of that is getting ready for takeoff, he noted.

The CEO said that the company will bring products in the mid and affordable segment in EVs in the next 4-5 quarters, leveraging the strengths of Hero dealerships and collaborating on charging.

In October 2022, Hero MotoCorp entered the electric vehicle market under the VIDA brand. The business launched its line of electric scooters from its Andhra Pradesh factory in Chittoor.

Hero MotoCorp on November 1 had reported a 47 percent jump in net profit at Rs 1,054 crore for the quarter ended September 30, 2023. The two-wheeler major had reported a profit of Rs 716 crore in the year-ago period.