Hero Electric, India’s leading EV company, today announced a partnership with Anand Mahindra-led Mahindra to serve the country’s growing electric vehicle market. The collaboration is part of Hero’s EV growth and expansion plans.
According to a company statement, the partnership will enable Mahindra Group to manufacture Hero Electric’s electric bikes – Optima and NYX – at their Pitampur plant to meet the growing EV market demand.
Furthermore, with this collaboration and the expansion of its existing Ludhiana facility, Hero will be able to meet its growing demand of producing over 1 million electric vehicles per year by 2022.
“Hero Electric has been leading the Electric two-wheeler sector in the country. To further deepen its roots and strengthen its leadership, Hero Electric has announced a partnership with the Mahindra Group, which is leading the EV transition in the electric three and four-wheelers space,” Mr. Naveen Munjal, MD, Hero Electric said.
He further said the long-term partnership between both the companies will make the most out of each other’s deep knowledge of EVs and drive new product development in the next few years. “We look forward to creating more synergies with them in the near future,” he adds.
The joint development efforts will also be a key factor in developing the platform approach to help electrification of the Peugeot Motocycles’ portfolio. The company expects this will bring significant value to both parties through optimization of costs, timelines, and shared knowledge in this dynamic, fast-growing global EV environment.
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