Hero Electric-Mahindra partnership is towards electrification of their products. This will also include product sharing for Peugeot Motorcycles.
In a press note, Hero Electric and Mahindra Group have announced their collaboration aimed towards Hero’s growth and expansion plans to cater the ever-growing demand for EVs in India.
Hero Electric and Mahindra have highlighted that they will create a seamless channel of communication which will aid better knowledge sharing among the R&D teams to build new products and technologies. This will be done keeping the Indian and global markets in mind which they hope will further the growth of electric vehicles along with setting benchmarks for faster adoption of electric mobility in the industry.
As part of their new partnership, Mahindra Group will manufacture Hero Electric’s Optima and NYX electric scooters at their Pithampur plant to fulfill the growing demands of the market.
Furthermore, this partnership along with the expansion of their existing Ludhiana facility will allow Hero Electric to fulfill their objective of manufacturing over 1 million EVs per year by 2022.
Hero electric explains that these developments will further enable them to accelerate adoption of a cleaner mode of transport.
They further highlight that their joint development efforts will also play a key role in developing the platform approach to help electrification of the Peugeot Motocycles’ portfolio.
From this collaboration, both parties foresee significant value through optimization of costs, timelines, and shared knowledge in the fast growing global EV environment.
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Speaking on the announcement, Mr. Naveen Munjal (MD, Hero Electric) said
“The Mahindra Group has been pioneering in electric three and four wheelers for many years now while driving transition to EV across the consumer and B2B segment. With this partnership, we look to further enhance our manufacturing capabilities to meet demand and utilize Mahindra Group’s robust supply chain to reach newer centers in the country. The long-term partnership will also see both the companies 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.”
With India moving towards electrification at a rapid pace, makers are going all guns blazing to be ready with the expected rise in demand.