With the rising favorable wave of Electric Vehicles in the market, the 2-wheeler players like Bajaj, TVS have already commenced their EV Manufacturing operation and started selling well.How did Hero MotoCorp lag in the EV business: Due to this turnaround in the industry, not only the existing automobile players, but many new start-ups are also participating in this revolutionary change. Now with the changing dynamics of the overall automobile industry, where the winds are on the Electric Vehicle side.As of now, Hero MotoCorp owns around 37% market share in the 2-Wheeler category and leads this industry followed by Honda with a 25% market share.of Hero Honda and hence in 2011, Hero Honda was transformed into Hero MotoCorp. Further, Pawan Munjal decided to buy the J.V.
The main business Hero Honda was now headed by Pawan Munjal. This was the pleasant stage of Hero Group but in 2010, this business was split into 4 categories.Then in the year 1984, a Joint Venture (J.V.) was established between the Company and Honda and started manufacturing Moped’s, and this J.V. In 1947, Brij Mohan Munjal along with his 3 Brothers started Cycle Spare Trading Business, which further started manufacturing cycling by 1956.Hero MotoCorp and HeroElectric- Origin & History: Let’s discuss more this fiasco in this article. Have you ever listened that a Business is unable to use its Brand Name for its Product? It Sounds Strange, but it is true! It has happened and is happening with India’s Leading Two-Wheeler company- Hero MotoCorp.
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