VIDA, the electric two-wheeler business of New Delhi-based Hero MotoCorp Limited, dispatched 30,143 units in October 2026, the highest of the four months from July. VAHAN retail registrations grew 80% year on year, the company said on 1 November 2026. VIDA’s share of the electric two-wheeler segment rose to 13.6% from 11.1% a year earlier. That compares with 11.0% for the first half of FY27.
Key Details
Hero MotoCorp’s monthly releases show dispatches rising in each of the last three months:
- July 2026: 22,714 units
- August 2026: 25,558 units
- September 2026: 28,798 units
- October 2026: the figure above, with market share up 2.5 percentage points
VIDA made up about 4.1% of Hero MotoCorp’s total dispatches of 7,34,403 units in October 2026. The total rose 16% from 6,35,808 units. Domestic petrol-engine dispatches were 6,75,017 units, up 14%, and global dispatches were 29,319 units. Scooters, including electric models, rose 60.8% to 1,04,603 units from 65,055 units. Total VAHAN registrations for Hero MotoCorp were 5,89,665, excluding Telangana, as on 1 November 2026, and the release gives no year-earlier figure.
TVS Motor Company reported electric two-wheeler sales of 71,382 units in October 2026, up 120%, in its own filing on 1 November 2026. TVS describes this as sales, and its filing does not define the measure.
The company has not disclosed VIDA’s own registration count for October 2026, its revenue or its profitability, and it did not break out exports. A filing of 3 November 2025 put VIDA’s registrations for October 2025 at approximately 16,000 units. Dispatches and VAHAN registrations are different measures, so the two figures are not directly comparable.
Q2 and First-Half Performance
The Q2 FY27 press release of 28 October 2026 said VIDA reached 66,531 retail units in the quarter, up 76% year on year. The investor presentation shows retails doubling in the first half to about 1,24,000 units, up 108%. It gives an electric vehicle market share of 11.0% for the first half, based on VAHAN. Scooters, including electric models, made up 13% of volume in Q2 FY27, against 10% a year earlier.
The same presentation lists VIDA’s reach at 778 dealerships across 475 cities at the end of September 2026. It says VIDA holds a top-two position in 74 towns and more than 20% market share in 57 towns. It also lists comprehensive coverage of the battery and critical components, a connectivity features subscription model and a charging network of more than 6,000 points.
Management Comment
Chief Executive Officer Harshavardhan Chitale said on 28 October 2026 that scooters had emerged as a key growth contributor in the quarter, supported by momentum across both petrol and VIDA electric models. Chitale said the focus remained on sustaining that momentum, driving profitable growth and building a more diversified business. The October sales release carries no individual comment on VIDA.
Policy Backdrop
The central scheme for electric vehicle demand is the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme. A Press Information Bureau (PIB) factsheet of 1 October 2026 says implementation runs until March 2028. It lists an incentive for registered electric two-wheelers of ₹2,500 per kWh, capped at ₹5,000 per vehicle. The incentive applies to models priced up to ₹1.5 lakh ex-factory.
The factsheet gives the two-wheeler incentive no separate end date. A PIB release of 8 August 2025 said the extension to 2028 was required for electric trucks, electric buses and testing agencies, and it set 31 March 2026 for electric two-wheelers. Hero MotoCorp’s release does not say whether VIDA models currently receive the incentive.
About Hero MotoCorp
Hero MotoCorp describes itself as the world’s largest manufacturer of motorcycles and scooters, a position it has claimed for 25 consecutive years. It operates eight manufacturing facilities, six of them in India, and reports a footprint across 53 countries. VIDA is its emerging mobility business unit, and the presentation shows VX2 Go 3.1 kWh and VX2 Plus 4.4 kWh variants launched in the half year. The company also holds strategic investments in electric two-wheeler and three-wheeler makers Ather Energy and Euler Motors, and it has an alliance with Zero Motorcycles.
For Q2 FY27, consolidated revenue rose 23% to ₹14,971 crore from ₹12,218 crore, and profit after tax rose 41% to ₹1,861 crore. The results include a ₹397 crore gain from the equity consolidation of an associate company.
The Company’s Recent Pipeline
- July 2026: VIDA entered Nepal, its first market outside India, unveiled the refreshed VOOM brand identity and introduced a 4.4 kWh variant.
- August 2026: It launched the VIDA VX2 Go with a 3.1 kWh fixed battery as an entry point to the range.
- September 2026: The VIDA VX2 entered the Asia Book of Records as the first electric scooter to tow a passenger aircraft over a record distance, the company said.
- October 2026: A festive campaign featured actors Anil Kapoor and Ranbir Kapoor, and the VIDA x KKR campaign won two honours at the AdAura Awards 2026.
Outlook
Hero MotoCorp’s presentation lists leadership in electric vehicles as a target. Its next monthly sales release will show whether dispatches hold at the October level. The two government documents above do not settle the end date of the two-wheeler incentive.
Official Sources
- Hero MotoCorp Limited – Press Release, October 2026 Dispatches (NSE, 1 November 2026): https://nsearchives.nseindia.com/corporate/HEROMOTO_01112026194430_StxintimationPR01112026.pdf
- Hero MotoCorp Limited – Press Release, Q2 FY27 Results (NSE, 28 October 2026): https://nsearchives.nseindia.com/corporate/HEROMOTO_28102026194501_OutcomeBM28102026Pressrelease.pdf
- Hero MotoCorp Limited – Press Release, Festive Sales (NSE, 3 November 2025): https://nsearchives.nseindia.com/corporate/HEROMOTO_03112025154105_StxintimationPR03112025.pdf
- Press Information Bureau – Ministry of Heavy Industries Extends PM E-DRIVE Tenure (8 August 2025): https://www.pib.gov.in/PressReleasePage.aspx?PRID=2154408®=48&lang=2
- TVS Motor Company Limited – Sales Update, October 2026 (NSE, 1 November 2026): https://nsearchives.nseindia.com/corporate/TVSMOTOR_01112026144636_TVSM_SalesupdateSD.pdf
- Press Information Bureau – PM E-DRIVE Scheme Factsheet (1 October 2026): https://static.pib.gov.in/WriteReadData/specificdocs/documents/2026/oct/doc_10062_20261001_19244601.pdf
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