Hero MotoCorp's flex fuel motorcycles will now cost 4% more than the existing models, Chief Executive Officer Harshavardhan Chitale said on Wednesday.
Chitale shared the news at the launch event of the company's first flexible fuel motorcycles. The company unveiled 'Flex Fuel' variants of its Splendor and HF Deluxe bikes in the 100 cc segment at the event. These bike models can run up to 100% on ethanol.
ALSO READ: Hero MotoCorp To Spend Rs 1,500 Crore In FY27, Targets Higher Scooter Output
Chitale stated that the company is ready to make its models compatible with a flex fuel system, with the models being ready to adapt from E20 fuel (20% ethanol and 80% gasoline) to E100 (93% ethanol and 5% gasoline and co-solvents).
The HF Deluxe Flex Fuel will be retailing at Rs 72,792 (ex-showroom Delhi), while the Splendor+ Flex Fuel will be priced at Rs 82,710 (ex-showroom Delhi), as per the company's press release.
These bikes can adapt even to E100 with existing engines, Chitale stated.
Flex fuel refers to vehicle fuel that is a blend of gasoline with oxygenates, such as ethanol or methanol. These fuel types tend to be more renewable as ethanol is readily available in comparison to petroleum, and tend to produce less emissions as ethanol burns cleaner.
Chitale stated the the company experienced oil price shocks during the fuel crisis caused by the war between US and Iran.
ALSO READ: 1% Shift In Annual Petrol Car Sales To Ethanol Can Save Rs 195 Crore In Forex: Hardeep Puri
Oil prices have been volatile and displayed severe fluctuations since the beginning of the war, especially after the Strait of Hormuz, a major fuel shipment route, was partially closed and blockaded.
"The introduction of Flex Fuel vehicles by Hero MotoCorp is another important milestone in our journey towards enhanced energy security, lower carbon emissions and reduced dependence on imported crude oil," Hardeep Singh Puri, minister of petroleum and natural gas said, as per the release.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
