Country’s largest two wheeler maker Hero MotoCorp is working fast to introduce retro styled models of Harley-Davidson and at the same time plans to enter a very profitable segment of premium motorcycle segment.
In October last year, Hero MotoCorp and American premium motorcycle maker Harley-Davidson announced a partnership for the Indian market. Earlier, the American company announced the closure of its sales and manufacturing operations in India, a decade after it started selling its premium bikes in the country.
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Niranjan Gupta, Chief Financial Officer (CFO), Hero MotoCorp, said, “The strategy for our partnership with Harley has two phases. Firstly, to be clear, we are the sales distributor for Harley’s motorcycles in India. We have 14 dealers, around 30 touch points, and it is going well. The second part of the strategy is to introduce a motorcycle in that retro segment, which contributes nearly a third to the total profit of the premium segment.
He said that Harley is clearly a reputed brand and work is on in full swing to introduce vehicles in this segment. As per the licensing agreement between the two companies. Hero MotoCorp has got exclusive distribution rights of Harley-Davidson motorcycles. Its parts and accessories in India after the US company exits the Indian market.
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Sales will Also be Done Through Digital Platform
According to the information, LiveWire will start functioning as an independent brand with the existing dealership network of Harley Davidson. Customers will also be able to buy Livewire brand bikes through the digital platform. At present, the company plans to start dealerships only in select locations in California. Harley-Davidson CEO Jochen Jetz says that this new electric brand is one of the six pillars of the company’s hardware strategy. The company is trying to become the market leader of electric vehicles.
First Electric Cruiser was Introduced in 2018
Let us tell you that Harley-Davidson introduced the production model of its first electric cruiser Harley-Davidson Livewire in 2018. The company introduced it on the occasion of its 115th anniversary. This bike was based on Harley-Davidson’s Project Livewire.