Vida price cut comes at a time when electric two-wheeler segment has reported negative MoM growth in April 2023
To boost sales, leading electric scooter manufacturers like Ather and Ola Electric had recently launched affordable base-spec variants. It appears that OEMs are looking to achieve a starting price of under Rs 1 lakh. This has a significant impact on consumer perceptions and their decision making.
Now, Hero MotoCorp seems to be following a similar strategy. Prices have been reduced by Rs 25k for Vida V1 Plus and Rs 20k for Vida V1 Pro. Prices of Vida scooters will be even lower at locations that still have state subsidy.
Hero Vida new prices – April 2023
Earlier, Vida prices were quite high at Rs 1.45 lakh for V1 Plus and Rs 1.59 lakh for V1 Pro. Hero MotoCorp has now implemented a new pricing policy that will be applicable pan-India. The new effective price of Vida V1 Plus is Rs 1,19,900 whereas Vida V1 Pro will retail at Rs 1,39,900. This is an effective price, which includes FAME II subsidy and portable charger. Hero says that the new prices will make Vida more accessible to the masses. It will also help speed up adoption of electric scooters.
Some states continue to offer state-level subsidies for EVs. Consumers in these states can get the Vida at an even lower price. For Example, people in Ahmedabad can get Vida V1 Plus at Rs 99,900 and Vida V1 Pro at Rs 1,19,900. Similarly, prices will vary based on state level subsidy. Other states that continue to offer state subsidies include Rajasthan and New Delhi.
Vida to increase presence across 100 cities
Hero MotoCorp is working on a mega expansion plan, which will help boost sales. As of now, Vida is available in Bengaluru, Delhi and Jaipur. The company has also started expansion plans in eight new cities – Pune, Ahmedabad, Nagpur, Nasik, Hyderabad, Chennai, Calicut and Kochi. By end of CY2023, Hero has plans to make Vida available in 100 cities. The company should not have any major challenges, as it already has a large network of dealerships.
Hero currently operates experience centres for Vida in Bengaluru and Jaipur. In Delhi, the company has pop-up stores. Pre-bookings for Vida are now open in the eight new cities. Deliveries are expected to commence soon at these locations.
Hero is also working to expand its charging network. As of now, there are around 300 charging station across Bengaluru, Delhi and Jaipur. Charging stations will soon be set up in new cities as well. The charging stations will be installed at prominent locations to ensure easy access to users. When using Vida’s fast charging network, users can refuel at 1.2 km per minute.
Due to the earlier high pricing, Vida sales were fairly limited in comparison to rivals. With more affordable pricing and availability across 100+ cities, a surge in sales can be expected. Vida comes with removable batteries, which is another advantageous factor for the scooter.