Clean mobility to define next decade: Pawan Munjal | Economic Times

Clean mobility and the electric powertrain will define the next decade for Hero MotoCorp. CMD Pawan Munjal tells Sharmistha Mukherjee in an exclusive interaction. The company has made large capital allocations for development of electric vehicles, inked a partnership with Taiwan’s Gogoro to set up a swappable battery network, and drawn up aggressive plans to sell electric products in 20 global markets. At the higher end of the two-wheeler market, Hero MotoCorp will develop a range of premium motorcycles, which will be sold under the ‘Harley’ brand in India. With these initiatives, the company aims to corner a 50% share in the local two-wheeler market by 2030. Edited excerpts:Having successfully completed the first 10 years of your solo journey, what is the roadmap for Hero MotoCorp in the next decade?Clean mobility and EVs will certainly define the next decade. Our electric program is on track with our first EV product slated to be launched by March 2022. We have drawn up a 10-year roadmap for our EV journey, under which we plan to have our electric products sold in more than 20 global markets. We have set aside a large capital allocation toward the development of EVs. Going forward, 10% of our entire talent pool will focus exclusively on innovation.Moving into the next decade, would you continue to go solo or look for partnerships and collaborations?The future is going to be all about collaborations. In keeping with our mission to ‘Create, Collaborate and Inspire’, we have recently forged two new collaborations – one with Harley Davidson and the other with Taiwan’s Gogoro Inc. As per the licensing agreement with Harley Davidson, we will develop a range of premium motorcycles, which will be sold under the Harley brand name in the Indian market. ‘Premiumisation’ is a key priority area at Hero MotoCorp, and we already have a range of popular premium products, including the XPulse and Xtreme range of motorcycles. Our collaboration with Harley Davidson is also going to play a key role in this premium journey. Similarly, Gogoro is a key partner in our EV journey. In Taiwan, it has the largest battery-swapping network in the world and we will be bringing this network to India, along with new electric vehicles, powered by Gogoro technology. This collaboration will also be taken to our global markets.Besides EVs, what are going to be the other priority areas for Hero MotoCorp?In keeping with our Vision, ‘Be the Future of Mobility’, our aim is clearly to continue to lead the personal mobility space in the future. We are aiming to have a 50% share in the domestic market by 2030. Rapidly scaling up our global business is another priority area for us. In keeping with our new R4 strategy - Revitalize, Recalibrate, Revive & Revolutionize - we are aiming to have 15% of our total volumes come from our global business by 2025. We have already commenced retail sales in Mexico – a big two-wheeler market. Additionally, we have recently appointed new distributor partners in Nicaragua, and Honduras. In Africa, Nigeria is going to play a major role, and we recently launched the Hunter motorcycle in that market. The other priority area is sustainability – this is something that is very close to my heart. We are already working toward 100% product recyclability and carbon neutral dealerships by 2030. On top of my personal agenda is also diversity and inclusion, and this is an organizational priority as well. Women must be 20% of our staff – that is the mandate I have given my team to be reached in the next two years.