Please find enclosed herewith a copy of the Press Release being issued by the Company.
HEROMOTOCO · price
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Hero MotoCorp's electric two-wheeler brand VIDA is set to launch the VIDA VX2 electric scooter with a pioneering Battery-as-a-Service (BaaS) subscription model starting July 1, 2025. Under this pay-as-you-go model, customers can finance the scooter chassis and battery separately, significantly reducing the upfront purchase cost and converting it into manageable monthly payments. VIDA already has a pan-India ecosystem of over 3,600 fast-charging stations and more than 500 service points spread across 100+ cities. The company says the move is aimed at making electric two-wheeler ownership more affordable and accessible to a wider customer base. Full details on subscription plans and pricing will be announced on July 1, 2025.
This is a positive development for shareholders as the BaaS model could lower the entry barrier for EV adoption, potentially expanding VIDA's customer base and driving future revenue through recurring subscription income. Investors should watch the July 1 launch for pricing and subscription plan details, which will be key to gauging the model's competitiveness and demand impact on the stock.