Hero MotoCorp prices first 'Hero' branded bike at Rs 66,800

The company is positioning the new 150-cc bike as a dual purpose bike that can be used for both normal commuting as well as off-road adventure. It is using the ongoing India-England cricket series as a platform to promote the new bike.

"The Impulse is the first bike from us which will be sold only under the Hero brand. We have already started dispatches and it will soon be available at showrooms in metros and Tier-I cities," Hero MotoCorp Senior Vice-President (Marketing and Sales) Anil Dua told PTI.

While announcing the new brand identity of the company in August this year in London, the company had introduced the bike 'Impulse' and a 110-cc scooter, 'Maestro', to be sold under the Hero brand.

"As per our agreement with Honda, this bike is with the support of their technology and we are not selling it under the Hero Honda brand," Dua said.

On the pricing front, he said: "Considering the dual purpose of the bike and the features it has, this comes at a slight premium compared to other normal 150-cc bikes."Hero MotoCorp's other 150-cc bikes include the Achiever, CBZ Extreme and Hunk, which are priced between Rs 55,925 and Rs 65,215 (ex-showroom Delhi).

Dua said Hero MotoCorp is trying to create a new segment in the market with the Impulse. "We are not positioning this as a niche segment bike. We are targeting all the typical 150-cc bikers who have a desire to do off-road activities with their motorcycles."Initially, the company will target metros and Tier-I cities in the first phase and then gradually reach out other smaller cities and towns for the new model, Dua said.To promote the Impulse, the firm, which is one of the sponsors of the ongoing India-England cricket series, is giving away the bike to a player who excels with both bat and ball in a match.

"The idea is to bring out the dual purpose of the bike," he said, adding that the company would also conduct test rides in different cities.

"We are not looking at this bike as a niche product, but trying to have an extensive market reach," he said. Dua did not comment on the expected date for the market launch of the 'Maestro' scooter.

Hero MotoCorp had embarked on the journey to acquire a new brand name after the erstwhile joint venture partners in Hero Honda decided to part ways in December last year.

The Indian promoter of the firm, the B M Munjal family had agreed to buyout the entire 26 per cent stake of Honda in Hero Honda for Rs 3,841.83 crore. This brought an end to a 26- year-old successful joint venture.

According to an agreement signed between the two erstwhile partners, Hero can use the Honda brand till 2014.

Hero Group and Honda had signed a new licencing agreement in March under which the Indian firm will pay the Japanese auto major 45 billion yen (about Rs 2,450 crore) till 2014 for the use of Honda's technology.