Hero MotoCorp carves out electric vehicle unit, rejigs top deck

Hero MotoCorp Ltd on Tuesday said it had appointed Rajat Bhargava as head of its newly created ‘Emerging Mobility’ unit as India’s biggest motorcycle manufacturer looks to claim a slice of the country’s electric vehicle (EV) market.

The government, in a bid to promote electric automobiles in polluted cities, last week proposed tax waivers on the purchase of EVs and removed import taxes on some auto components to help boost sales.

Reuters reported last month that the country’s leading think-tank has proposed electrifying most motorbikes and scooters within the next six to eight years, helpig reduce the world’s third-biggest emitter of greenhouse gases dependence on fossil fuels.

Hero has created the Emerging Mobility business unit to give an impetus to new mobility trends such as Electric Vehicles, the company said in a statement.

The motorcycle manufacturer also appointed Vikram Kasbekar as its chief technology officer, replacing Markus Braunsperger.

Hero shares were up about 1.5% during mid-day trade on Tuesday.

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