Hero MotoCorp partners with Gogoro for developing electrical vehicles

Hero MotoCorp announced a strategic partnership with Gogoro Inc to accelerate the shift to sustainable electric mobility in India. The partnership aims to bring together Hero and Gogoro, the global leaders in urban battery swapping and smart mobility innovation.    

Hero and Gogoro will start a battery swapping joint venture to bring Gogoro’s battery swapping platform to India and collaborate on electric vehicle development to bring Hero branded & powered by Gogoro Network vehicles to market.

Gogoro Network is an efficient battery swapping platform with more than 3,75,000 riders and 2,000 battery swapping stations. The company manages 2,65,000 daily battery swaps with more than 17.4 crore total battery swaps to date. It combines the power of connectivity, artificial intelligence, and machine learning to create a new generation of swappable battery refuelling.  

According to BSE data, the stock traded at a P/E multiple of 20.74 and a price-to-book ratio of 3.85. The stock has a 52-week high and a 52-week low of Rs 3,628.55 and Rs 1,762.25, respectively.   

At 1.17 pm on Thursday, the stock of the company was trading at Rs 2,829.85, up by 0.20 per cent on BSE.