This Hero MotoCorp-Hero Electric controversy has reached its peak with the latter knocking at the High court to announce restraint!
Hero MotoCorp, country’s largest ICE 2-wheeler manufacturer, is yet to venture in the electric vehicle space where arch-rivals TVS and Bajaj already have products – live and kicking for the last few years.
However, Hero has cleared that it is ready with its first electric 2-wheeler offering which will be launched by March 2022 ie within two months from now (more details). But that is just the half part of the story!
The other part is the controversy that has been on the burner for the last few months. The reason is family firm Hero Electric, which has never ventured in Hero MotoCorp’s domain. Just ahead of Hero MotoCorp’s venture into electric, Hero Electric has moved the Delhi High Court seeking restrain on the Pawan Munjal led firm to use ‘Hero’ branding on its products.
The Naveen Munjal-led company claims that there is a 2010 family pact which gives Hero Electric the sole right to use ‘Hero’ branding on electric vehicles.
However, Hero MotoCorp seems adamant and is of the opinion that no such clause stops them from going ahead with Hero branding on its upcoming electric vehicles. It is of the opinion that the restriction is only for the term ‘Hero Electric’ which, obviously, it won’t use.
To fight it out in the court, Hero Electric has hired Khaitan and Company whereas Hero MotoCorp’s case will be handled by senior advocates Abhishek Manu Singhvi and Rajiv Nair. With both makers in no mood to give up, it will be a controversial start of this new venture.
Hero says like its current ICE 2-wheelers, all its electric products will have different naming.
Interestingly, it has been revealed that Hero MotoCorp has patented the term VIDA for its electric vehicles. It will be interesting to see if this is just a back-up in case it loses the case or will its products come under this new umbrella, irrespective of the outcome of the case.
Source – CNBC TV18