Pawan Munjal’s Hero Motocorp reached a new milestone on Tuesday as the two-wheeler major launched its first homegrown scooters after its split from Japanese automaker Honda in 2010 that ended a 26-year-old joint venture.
Hero launched its 110cc Maestro Edge and unveiled the Duet in a bid to raise its share in the increasingly competitive scooter space in India. Maestro Edge, positioned as a premium scooter, will hit the market on October 13 with its base model priced at Rs 49,500 and VX model priced at Rs 50,700 (ex-showroom Delhi). Duet, which is aimed at the masses, will be formally launched later; the exact date is yet to be announced. Both scooters have been developed on Hero’s in-house engine and chassis platform.
“Hero is using innovation and technology to create a new tomorrow for itself. We are going to become an iconic brand across the globe,” said Pawan Munjal, chairman and managing director, Hero Motocorp. “From a company that was dependent on some one else for technology, we have developed our own technology… I feel a sense of accomplishment.”
While Hero remains the market leader in an otherwise-slowing motorcycle segment, its closest rival, Honda Motorcycles and Scooters India Pvt Ltd, has been steadily gaining ground in the scooter segment. The stylish and vibrant Maestro Edge will compete with the Honda Activa and TVS Jupiter.