EV wars are way overrated atleast until the next couple years. There is a reason why Hero Bajaj, TVS and Honda are still launching ICE models. Also, I would rather buyout Ather completely at a small current premium than a higher premium in the future. Another acquisition like Revolt motorcycles( for eg) wouldn’t hurt.
Problem is, Hero moto is a laggard in lifestyle motorcycles. Even a niche maker like Mahindra owned classic legends will be launching a 650cc soon.
The inability of Hero to launch anything 250cc+ has hit the brand hard and made it irrelevant. The fast eroding marketshare is a testament. To understand the importance of a premium bike, look at the footfalls jawa yezdi showrooms are getting with new launch.
Unfortunately, with overcrowding in premium segment, Hero needs to overdo a premium motorcycle to stay relevant. And fast. The clock is ticking.