Eyeing leadership in the electric two-wheeler segment, Hero MotoCorp is looking to roll out affordable models in the current fiscal, according to CEO Niranjan Gupta.

The country's largest two-wheeler maker is also hopeful of the debut of its electric range in the international markets.

Addressing shareholders in the company's Annual Report for 2023-24, Gupta said the two-wheeler major has a roadmap to scale its electric vehicle business rapidly.

"We want to build leadership in EV, and in order to do that, we will be creating a very powerful EV product portfolio, augmenting the VIDA V1 Pro that we have today," he noted.

The company will be launching products in the mid-and affordable segments this fiscal, Gupta said.

Hero MotoCorp's VIDA electric scooter range is priced between Rs 1-1.5 lakh, including state subsidies.

Hero MotoCorp Executive Chairman Pawan Munjal said together with Ather Energy, VIDA has established India's largest public-charging infrastructure for two-wheeler EVs.

Additionally, the partnership with Zero Motorcycle will facilitate the development of new EV motorcycles targeted at a distinct customer segment, thereby expanding the overall market size, he added.

"I am particularly pleased to witness VIDA V1's rise as one of the leading electric scooters in India, and I anticipate its future launch in global markets, where it is poised to become a significant player as well," Munjal noted.

Hero MotoCorp has already expanded the presence of its EV scooter VIDA from three to over 100 cities.

"There is path-breaking innovation underway at our state-of-the-art R&D Centres at CIT Jaipur and Tech Centre Germany to create a winning portfolio in all segments," Gupta informed shareholders.

The company also plans to drive more premium products and scale up the international, accessories and merchandise businesses, he stated.

Gupta noted that while the company has a huge scale in the domestic market, it has also embarked on a similar journey to scale up its global business with a single-minded focus on the top ten markets.

"Additionally, we are tapping into opportunities to scale up our accessories and merchandise business," Gupta stated.

On premium products, he noted that last year the company launched a series of premium products, boosting the portfolio.

"We will continue to launch more premium products in the coming years," he said, outlining the company's focus on speed, scale, synergy, and simplification.

"Our premium portfolio across ICE and EV will grow exponentially, with a line-up that is committed to innovation," Gupta said.

He noted that the company enjoys a significant scale advantage.

With a customer base of 116 million, over 7,500 distribution points, a supply chain capacity of 10 million units, a presence in around 50 global markets, and a workforce of more than 25,000 employees, the two-wheeler major's scale is unparalleled, he said.

"Leveraging this scale is key to success in everything that we do. We are adopting this scale Mantra in every decision we make; our strategy is to put our might behind products and projects that can be scaled up faster," Gupta said.

The company has accelerated product development and also upgraded the sales network, he said.

"Embracing speed is crucial as we navigate rapidly changing global and consumer trends. We are now focussing on further reducing the time our products take to roll out and enhance speed by decentralised decision-making to the point where the actions reside," Gupta said.

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Ola Electric has announced the commencement of mass deliveries of its 4680 Bharat Cell-powered vehicles. The S1 Pro+ 5.2 kWh is the first product to be powered by the company’s indigenously manufactured 4680 Bharat Cell battery pack, which delivers more range, better performance and enhanced safety.

With its own battery packs in the vehicles, Ola Electric is now India's first company to fully own the battery pack and cell manufacturing process in-house.

The S1 Pro+ 5.2 kWh is powered by a 13 kW motor, offering acceleration of zero to 40 kmph in just 2.1 seconds. It comes with an impressive 320 km range (IDC with DIY mode).

The S1 Pro+ features four riding modes (Hyper, Sports, Normal and Eco) and also offers enhanced safety with category-first dual ABS and disk brakes in the front and rear. It also gets enhanced ergonomics and comfort, a two-tone seat with supportive foam, body-coloured mirrors, a die-cast aluminium grab handle, rim decals and an expanded colour palette comprising Passion Red, Porcelain White, Industrial Silver, Jet Black, Stellar Blue and Midnight Blue.

“The excitement for S1 Pro+ has been phenomenal. Deliveries are now in full swing, and customers are proudly riding India’s first scooters powered by our own 4680 Bharat Cell. This is a big moment, not just for Ola, but for India’s journey towards becoming a global EV hub. With the national rollout starting soon, we are now ready to take this breakthrough product and technology to every corner of the country,” an Ola Electric spokesperson said.

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CATL and Stellantis broke ground on a EUR 4.1 billion battery plant in Figueruelas, Spain, on 26 November. The 50:50 joint venture will produce lithium-iron-phosphate battery cells and targets an annual production capacity of 50 GW/h.

The project, which is Spain’s largest battery factory, is backed by over EUR 300 million in EU funds, with production expected to start in late 2026.

According to unions, around 2,000 Chinese workers will help construct the site, a point of contention with local authorities and residents. Also, 3,000 Spanish staff are to be hired and trained later.

Spanish authorities and residents have voiced concerns about job opportunities for local workers and potential strain from the influx of foreign employees. CATL Vice President Meng Xiangfeng said earlier in November the company needed experienced technicians to build and fine-tune production lines, with plans to train local workers to take over operations gradually.

David Romeral, Director General of CAAR Aragon, a network of automotive businesses in the region, said: “We don’t know this technology, these components – we’ve never made them before. They’re years ahead of us. All we can do is watch and learn.”

The regional government is organising work permits for arriving workers while seeking to attract battery supply chain companies to Aragon. Some Chinese technicians and managers have already arrived, with several hundred more expected by year-end and nearly 2,000 by the end of next year.

CATL’s approach contrasts with its Hungarian site in Debrecen, where it hired mostly locals to build its European plant. However, a lack of local workers caused production to be delayed from late 2025 into mid-2026. The Figueruelas facility will serve as CATL’s third European manufacturing operation, alongside the Hungarian plant and one in Germany.

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Neuron Energy, an EV battery manufacturer, has raised INR 310 million in a Pre-Series B funding round led by Equanimity Ventures, Rajiv Dadlani Group, Thackersay Family Office and Chona Family Office, with participation from Family Offices and HNI investors. With this, Neuron Energy has raised INR 810 million to date.

The funding will be used to expand Neuron Energy’s manufacturing capacity to 3 GWh and to establish a fully automated, large-scale battery facility for electric four-wheelers and buses at Chakan, Pune. The capital will also strengthen the company’s R&D capabilities, accelerate domestic growth, and broaden its footprint in international markets.

Pratik Kamdar, CEO and Co-Founder, Neuron Energy, said, “This Pre-Series B round is a defining step in our mission to industrialise world-class battery manufacturing in India. As EV adoption accelerates, we are focused on building capacity, embedding automation, and pushing the boundaries of performance and reliability. This investment ensures we can deliver at scale, both in India and globally.”

The company said it operates with a low-CapEx and low-OpEx business model. It has been growing profitably year-on-year and is on track to achieve INR 2 billion in revenue this year. The company is also confident of achieving sales of over INR 9 billion, with profitability, over the next few years.

Rajesh Sehgal of Equanimity Ventures, added, "We see immense potential in Neuron Energy’s approach to EV battery innovation and scalability. Their focus on quality, automation, and energy efficiency aligns with the evolving demands of the EV industry in India and beyond. We are proud to support their next phase of growth as they scale into new vehicle categories and manufacturing capacities."

The new facility reinforces the company’s position in two-wheeler EV batteries and signals a strategic entry into heavier vehicle segments. This supports Neuron’s vision to become a comprehensive EV battery solutions provider.

Rajiv Dadlani, from the Family Office of the Rajiv Dadlani Group, said, "Neuron Energy demonstrates remarkable potential to become the market leader, with their renewed focus, in delivering top-quality products. The company and its founders are highly committed to delivering rigorously tested and safe-to-use Li-Ion smart batteries. We are confident that they will continue to thrive and set new standards in the industry."

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