As part of the partnership, Hero Electric’s e-scooters – Optima and NYX will be manufactured at Mahindra’s Pitampur facility, aimed at meeting the growing demand for electric vehicles.
see photosHero Electric will also help Mahindra electrify the Peugeot motocycle range
Hero Electric has announced its new partnership with Mahindra Group as part of the brand’s expansion plans to meet the growing EV requirements. The strategic partnership will see the two industry leaders collaborating across multiple verticals as they further develop the electric ecosystem in the country. As part of the partnership, Hero Electric’s e-scooters – Optima and NYX will be manufactured at Mahindra’s Pitampur facility, aimed at meeting the growing demand for electric vehicles. The company will continue to manufacture electric two-wheelers at its plant in Ludhiana, as it aims to be able to produce one million electric vehicles per year by the end of 2022.
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Hero Electric Optima and NYX electric scooters to be manufactured at Mahindra’s Pitampur plant
However, the big update is that Hero Electric will help the Mahindra Group in electrifying the Peugeot motocycle portfolio. This dynamic, rapidly growing global EV environment is expected to bring significant value to both parties through optimization of cost, timelines and shared knowledge, the company said in a statement.
Speaking on the announcement, Naveen Munjal, MD, Hero Electric said, “Hero Electric is leading the electric two wheeler segment in the country. To further deepen its roots and strengthen its leadership, Hero Electric has partnered with Mahindra Group. , which is leading the EV transition into the electric three- and four-wheelers space. This brings together two industry leaders to further enhance manufacturing capabilities and create new hubs in the country to meet demand. The long-term partnership will allow both the companies to make the most of each other’s deep knowledge of EVs and drive new product development over the next few years. We look forward to building more rapport with them in the near future.”
Pitampur plant already supplies EVs to Peugeot, which may accelerate post collaboration
Speaking about this partnership, Rajesh Jejurikar, Executive Director, Auto and Farm Sector, Mahindra & Mahindra Ltd., said, “Peugeot Motocycles has ambitious plans in the EV mobility space in many regions of the world and especially in Europe. The strategic partnership will fuel these efforts through joint growth and a platform-sharing approach leveraging the combined strengths of the two businesses. Our R&D center in India will be an integral part of this arrangement, as will the manufacturing facility in Pitampur, which already supplies Peugeot with EV products. I see significant value creation on a mutually beneficial basis and look forward to this partnership delivering on its clear promise.”
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Both Hero Electric and Mahindra Group aim to create a channel of communication and knowledge between the R&D teams of the respective companies. The partnership will lead to future products that will not only meet the domestic market but also the global requirements. Furthermore, the company said that this partnership will set the benchmark for rapid adoption in the industry.
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