Hero MotoCorp gears up for future mobility trends with new leadership team

Hero MotoCorp, the world's largest two-wheeler manufacturer, on Tuesday revamped its leadership team to stay ahead of the emerging mobility trends.

As part of this process, the company has assigned the role of Chief Technology Officer (CTO) to Vikram Kasbekar while Rajat Bhargava has been given the responsibility to head the newly-created Emerging Mobility Business Unit.

Both Vikram and Rajat will continue to report to Hero MotoCorp Chairman Pawan Munjal, the company said in a statement.

Rajat currently heads Corporate Strategy and Performance Transformation and is also Head of Global Business.

Vikram, currently the Executive Director of Operations (Plants), will be in charge of the company's research and development facilities -- the Centre of Innovation and Technology at Jaipur -- and Hero Tech Centre Germany GmbH.

He will replace Markus Braunsperger who will be relocating to Europe after the completion of his five-year tenure.

Hero MotoCorp has created the Emerging Mobility Business Unit to give an impetus to new mobility trends such as electric vehicles (EVs).

The government plans to promote startups in the electric mobility ecosystem in the next few years as it mulls a proposal for banning internal combusting driven two and three-wheelers by 2025 and 2023.

In her maiden Budget speech, Finance Minister Nirmala Sitharaman proposed to introduce an income tax rebate of Rs 1.5 lakh for customers of EVs and voiced the government's intent to develop India as a manufacturing hub of EVs. She also announced a reduction in customs duty on import of certain parts of EVs.