New Delhi: Pawan Munjal, Chair of the Heroes of Motocorp, said the company was ready to shed the ‘old guard’ attitude and played startup games – including entering the ‘cash’ customer subsidy model, if the need arises – along with new investments worth thousands of crores, while opening to raise fresh funds.
A brave statement by Munjal, a businessman who generally mandated, came at a time when Ola Electric supported by Softbank challenged two-wheeled traditional players with a green scooter who claimed to have collected one lakh order in just one day (the vehicle was launched on August 15).
“In fact, the market is interrupted by the way we have to do (engage in cash burning) to enter the market with prices where we must be aggressive and get a fair share, then we will do it,” Munjal told Ti when asked if he was asked Ready to look beyond traditional business wisdom and engage in aggressive one-strengthening price.
“We might be called an established player – old guard.
After saying that, if and when it comes to playing the right type of game, we will start.
In many ways today, many teams in the EV program work like startup.” Hero Moto- Corp celebrates a 10-year anniversary of solo travel after separating from JV with Honda Japan.
While Ola Electric is a startup, it promises mega investment and a production scale of 10 million units (every year) next year – what capacity is still not owned by the hero in 1985.
Munjal remains unaffected and ready to fight it.
“I believe in the future is electricity (and) we cannot be abandoned …
we want to be a leader in electrification too, (and) we want to be a global leader …
the hero will do anything to become a leader.” Company, he said , it will not avoid collecting funds to maintain aggressive posture.
“…
Who said we as a company can’t bring funds, if and when needed? Today, we are a debt-free company.
We don’t have to be a debt-free company all our lives.
Is it impossible or difficult for the Motocorp hero to bring funds ? I believe investors will advance to support companies like the hero of the Motocorp.
“Munjal added that the hero would ensure it continued to make margins and not only rely on a cash-fueled model.
“What we do with our supply chain partners is creating a very competitive product.
Depending on the type of product and the segment we get – yes, to start, there is a possibility that in one, there may be cash and in others maybe not.”