Hero MotoCorp has made a strategic move by reintroducing the Vida V1 Plus electric scooter in India at an enticing price of Rs. 1.15 lakh, which includes subsidies and a portable charger, available in most states. This puts the Vida V1 Plus in direct competition with popular electric scooters like the Ather 450S, Ola S1 Air and S1 X+, as well as the TVS iQube, Bajaj Chetak, and Simple Dot One.
Growth in the Indian Electric Two-wheeler Industry
The Indian electric two-wheeler industry has been experiencing significant growth as more consumers opt for environmentally friendly mobility solutions. However, Hero MotoCorp faced several challenges in launching their electric vehicle (EV) under the separate Vida sub-brand.
Pricing Strategy and Reintroduction
Despite facing criticism for initially pricing the Vida V1 Pro above expectations, Hero revised its pricing strategy last year and introduced the Vida V1 Pro at a more reasonable Rs. 1.4 lakh, which includes central subsidies. Various state governments also offer additional subsidies further reducing the effective price.
Following the discontinuation of the Vida V1 Plus, the top-spec V1 Pro became the sole offering under the Vida brand. However, in 2024, Hero MotoCorp reintroduced the Vida V1 Plus at an attractive price of Rs. 1.15 lakh, including the FAME II central subsidy and portable charger.
Comparative Pricing and Subsidies
Comparing pound for pound, the 2024 Vida V1 Plus is Rs. 30,000 cheaper than the top-spec Vida V1 Pro. This makes it a compelling option for buyers as the entry point to the Vida lineup is now more affordable than initially quoted.
Many state and union territory (UT) governments offer additional subsidies to EVs. For example, Delhi residents can purchase the Vida V1 Plus for an effective price of under Rs. 1 lakh, precisely Rs. 97,800. Additionally, a few other states and UTs provide state-level subsidies to encourage the faster adoption of electric mobility.
Comparison of V1 Plus and V1 Pro
While the Vida V1 Plus and V1 Pro share similar styling cues, seating ergonomics, and technology, there are some differences between the two models. Both feature a 7-inch touchscreen dashboard and have a top speed of 80 km/h. However, the V1 Pro boasts a larger 3.94 kWh battery pack, providing a range of 110 km on a single charge, compared to the V1 Plus, which has a smaller 3.44 kWh battery promising a 100 km range. Despite both models having the same 6 kW electric motor, the V1 Pro is 0.2 seconds quicker.