Hero MotoCorp, India’s biggest two-wheeler company, just launched its second electric scooter — the Vida VX2. This scooter is different. It is the first in the country to offer Battery-as-a-Service (BaaS). But while the launch made headlines, it also divided foreign brokerages.
Some are excited. Others are holding back. Let’s break it down.
What’s Special About the Vida VX2?
The Hero MotoCorp VX2 is not just another electric scooter. It comes with two pricing models:
- Full Purchase Price: ₹99,490 (ex-showroom)
- BaaS Model: ₹59,490 (ex-showroom) + battery rental at ₹0.96 per km
This BaaS model lets users swap batteries instead of charging them at home. It’s great for people who worry about range or don’t have a place to charge their vehicles.
Also, the VX2 is packed with smart features like a digital display, mobile connectivity, and a sleek design.
Hero MotoCorp: What the Brokerages Say
After the launch, Hero MotoCorp’s stock got all the attention on July 2. But global brokerages didn’t all agree on where the stock is headed next.
Citi is feeling bullish.
They kept a Buy rating with a price target of ₹4,900. That’s a 16% upside from where the stock was. They think Hero’s new BaaS model can boost volumes. Also, they trust the brand’s wide network and strong name.
Nomura, on the other hand, played it safe.
They gave a Neutral rating with a target of ₹4,614. That’s still a 9% gain, but they are waiting to see how customers react.
Morgan Stanley isn’t convinced.
They gave an Underweight rating, expecting the stock to fall. Their target is ₹3,765 — that’s an 11% downside. While they find the BaaS model interesting, they’re unsure if Hero can fully deliver.
The Real Test Is Yet to Come
So, who’s right? It’s hard to tell now. The real test will be customer response — especially in big cities.
Hero MotoCorp is taking a bold step. But EVs in India still face challenges:
- Charging infrastructure is weak
- Many people are still unsure about EVs
- New players like Ola Electric and Ather are rising fast
Still, Hero has some big advantages:
- A strong dealership network
- Trusted name across India
- New-age tech with practical pricing
Hero MotoCorp is playing smart. The Vida VX2 with BaaS is unique in India. But execution is key. Can they build enough battery-swapping stations? Will customers accept the model?
If they get it right, Hero could lead the EV race. If not, competition is waiting.
For now, investors may want to watch closely but stay cautious. Hero is clearly moving in the right direction — but the road to EV success is still bumpy.
Also Read Hero MotoCorp Posts 10% Sales Jump in June 2025, Dispatches 5.54 Lakh Units
